Castelnau Group Ltd - Net Asset Value(s)
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( the " Company ")
Publication of Net Asset Value (“NAV”)
__________________________________________________________________________ |FUNDNAME |NAVPER ORDINARY SHARE|ISIN |NAV DATE | |_______________________|______________________|____________|______________| |Castelnau Group Limited|0.99 GBP* |GG00BMWWJM28|28th June 2024| |_______________________|______________________|____________|______________|
*Cum-income NAV
As at 28
th
The main contributor to the performance was Dignity/Valderrama, which was up 45.7% (with a NAV impact of 43.0%). The primary driver of this uplift is the reduction in net debt which has been facilitated primarily by surplus that has been withdrawn from the funeral plan trusts. This money (net of tax) alongside receipts from freehold disposals will be used to repay noteholders c. £80.0m. This repayment is in addition to the £15.6m that was announced in May. The repayment of the debt will significantly reduce the covenant hurdles to a level where the business should be able to operate within and reduce the annual debt service by c.£11m. In addition, the assumptions driving the trust valuation have been aligned to the latest actuarial valuation, creating a positive uplift. The Dignity/Valderrama performance was partially offset by performance of other assets in the portfolio.
Further information on the Company can be found on its website at www.castelnaugroup.com
This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) as it forms part of the
Enquiries :
Tel: +44 (0) 1481 745498
Notes:
The Company’s LEI is: 213800PED8RFUBMK1T64.
A copy of this announcement will be available on the Company's website at www.castelnaugroup.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company .
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