Net Asset Value(s)

Law Debenture Corp PLC

29 February 2024

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 28 February 2024

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business¹ on 28 February 2024 was 780.36 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 810.24 pence per share (cum income). The mid-market price at the close of business on 28 February 2024 was 782.00 pence per share.

In calculating the NAV, we have updated the value of the IPS business in line with the annual results release on the 27^th February 2024.

Subject to shareholder approval, the final 2023 dividend of 9.125p will be paid on the 11^th of April 2024 to shareholders on the register on the record date of the 7^th of March 2024.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	764.12	780.36
NAV with debt at fair value	794.00	810.24

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par)2	1.0	0.9	24.4	44.1	97.0
NAV total return (with debt at fair value)2	1.5	1.5	35.7	55.2	108.7
FTSE Actuaries All-Share Index Total Return3	-1.3	0.4	25.0	27.5	62.7
Share price total return3	-2.4	-4.0	26.0	67.3	107.9
Change in Retail Price Index4	-0.3	3.7	28.3	32.6	48.7

¹ The fair value of the IPS business has been calculated as at 31 December 2023.

² NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.

³ Share Price source: Refinitiv.

⁴ Source: Office for National Statistics, subject to latest published RPI, January 2024.

In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed.

Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Alison Skerritt, Company Secretariat, 020 7606 5451).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

 

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