Company Announcements

Net Asset Value(s) - Replacement

Source: RNS
RNS Number : 9442K
Scottish Investment Trust PLC
02 September 2019
 

NAV CORRECTION

The following amendments have been made to the 'Net Asset Value' announcement released on 30 August 2019 at 16:30 under RNS No 7765K as the market value and par NAVs were transposed.

All other details remain unchanged.

The full amended text is shown below.

To:           RNS

From:       The Scottish Investment Trust PLC

LEI:          549300ZL6XSHQ48U8H53

Date:        30 August 2019

 

 

Net asset values per share (NAVS) at 29/08/2019

 


 

Cum - income


Discount

 

NAV with borrowings at market value

899.34p

9.71%

 

NAV with borrowings at par

938.70p


 

                                 



 

Ex - income



 

NAV with borrowings at market value

881.75p


 

NAV with borrowings at par

921.10p


 



 



 

In line with our reporting policy, the NAVs are calculated taking the valuation of investments at closing bid or last price as the case may be. NAVs are unaudited.
Borrowings at market value is the company's estimate of the "fair value" of its borrowings. The current estimated fair value of the company's borrowings is based on the redemption yield of the relevant existing reference gilt plus a margin derived from the spread of BBB UK corporate bond yields (15 years+) over UK gilt yields (15 years+). The reference gilt for the secured bonds is the 6% UK Treasury Stock 2028 and the reference gilt for the perpetual debenture stocks is the longest dated UK Treasury stock listed in the Financial Times.           

 




 

"Borrowings at par" is the nominal value of the borrowings less any unamortised issue expenses.

 

 

For further information please contact:

Michael Woodward / Philip Rorke

0131 550 3761 / 3762

Maitland Administration Services (Scotland) Limited


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