Net Asset Value(s)
Summary by AI BETAClose X
At close of business on 02 November 2026 Merchants Trust reported capital net asset value per ordinary share of 694.89p based on par valuation and 708.55p based on market valuation, and cum-income NAVs of 705.50p (par) and 719.16p (market). The market-based NAVs are 13.66p higher than par-based on both measures and cum-income exceeds capital by 10.61p; long-term debt is valued using a margin over reference gilt yields with the Loan Notes issued 18 December 2017 valued at their issuance yield.
Merchants Trust PLC
03 November 2026
The Merchants Trust PLC
LEI: 5299008VJFXCUD2EG312
As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis.
The Merchants Trust PLC announces that at close of business 02 November 2026:
- based on the par value of the company’s long term debt and preference shares, the capital net asset value per ordinary share was 694.89p.
- based on the market value of the company’s long term debt and preference shares, the capital net asset value per ordinary share was 708.55p.
- based on the par value of the company’s long term debt and preference shares, the cum-income net asset value per ordinary share was 705.50p.
- based on the market value of the company’s long term debt and preference shares, the cum-income net asset value per ordinary share was 719.16p.
In the valuation of the company’s long term debt at market value, the margin added to the yield of the relevant reference gilt is derived from the spread of A UK corporate bond yields over gilt yields, with the exception that the Loan Notes issued on 18 December 2017 are valued at the yield over the reference gilt at which they were issued.
Enquiries:
Nira Mistry
Tel: 07 554 224 339
03 November 2026
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