NAV at 28 February

01 March 2013

Net Asset Value

The Corporation publishes its Net Asset Value (‘NAV’) each Monday and immediately after each month end.

  • The Board of The Law Debenture Corporation p.l.c. announces that its Net Asset Value (NAV Ex Income) at 28 February 2013 was 417.40 pence per share and NAV Cum Income was 429.58 pence per share, which includes the proposed 2012 final dividend of 9.75p. With the Corporation's long term debt stated at fair value, the NAV is reduced by 5.97 pence per share. The mid-market price at the close of business on 28 February was 465.50 pence per share. The final dividend will be paid, subject to shareholder approval, on 18 April 2013 to holders on the register at the record date of 22 March 2013.
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 28 February 2013 are set out below:

Geographical Split and Top Ten Holdings

Immediately following the end of each month, we also publish information about the geographical split and top ten holdings of the portfolio.

The current data is as follows:

Geographical Split at 28 February 2013

Region
% of Portfolio
UK
68
Europe
8
North America
7
Japan
3
Other Pacific

6

Other -
Cash and Fixed Interest
8
Total 100

Top 10 Holdings at 28 February 2013

Rank
Name of Holding
% of Portfolio (excl. cash)
1
UK Treasury 4.5% 07/03/13 3.65
2
Senior 3.42
3
UK Treasury 2.25% 07/03/14 2.77
4
Henderson Asia Pacific Capital Growth 2.47
5
BP 2.42
6 Henderson Japan Capital Growth
2.37
7 GKN
2.36
8

Baillie Gifford Pacific

2.13
9 Royal Dutch Shell 2.08
10

GlaxoSmithKline

2.04
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