Law Debenture Corp PLC Net Asset Value and Portfolio Update (3896B)

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RNS Number : 3896B

Law Debenture Corp PLC

03 April 2017

Net Asset Value

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including fair value of IFS businesses on 31 March 2017 was 638.58 pence per share (ex income) and 642.40 pence per share (cum income), which excludes the proposed 2016 final dividend of 11.50p. With the Corporation's long term debt stated at fair value, the NAV was 612.85 pence per share (ex income) and 616.67 pence per share (cum income). The mid-market price at the close of business on 31 March 2017 was 552.00 pence per share. The final dividend will be paid, subject to shareholder approval, on 20 April 2017 to holders on the register at the record date of 17 March 2017.

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. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation's gross assets as at 31 March 2017 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 March 2017 were:

 
           Name of Holding           % of portfolio 
   Rank                                      (excl. 
                                              cash) 
 1.       Royal Dutch Shell                    3.25 
 2.       HSBC                                 2.32 
 3.       Rio Tinto                            2.28 
 4.       GKN                                  2.22 
 5.       Baillie Gifford Pacific              2.22 
 6.       Rolls Royce                          2.09 
 7.       Stewart Investors Pacifc             2.07 
 8.       BP                                   1.98 
 9.       GlaxoSmithKline                      1.68 
 10.      Prudential                           1.67 
 

Geographical Split of investment portfolio

 
                            % of portfolio 
   Region 
 UK                                     66 
 Europe                                  7 
 North America                          11 
 Japan                                   2 
 Other Pacific                           5 
 Other                                   2 
 Cash and Fixed Interest                 7 
 
 TOTAL                                 100 
                           --------------- 
 

Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Ian Bowden, Company Secretariat, 020 7696 5285).

This information is provided by RNS

The company news service from the London Stock Exchange

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April 03, 2017 07:51 ET (11:51 GMT)