Halifax – Rns news

Source: Sharecast

RNS Number : 8662C

Law Debenture Corp PLC

01 May 2026

The Law Debenture Corporation p.l.c.

Net Asset Value as at 30 April 2026

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business¹ on 30 April 2026 was 1,115.91 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 1,156.81 pence per share (cum income). The mid-market price at the close of business on 30 April 2026 was 1,158.00 pence per share.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	1,101.51	1,115.91
NAV with debt at fair value	1,142.42	1,156.81

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par)²	7.7	36.6	59.9	75.4	199.2
NAV total return (with debt at fair value)²	8.0	35.9	59.7	89.4	220.0
FTSE Actuaries All-Share Index Total Return³	5.2	25.2	44.7	66.9	133.5
Share price total return³	10.9	34.2	57.3	86.9	250.5
Change in Retail Price Index⁴	0.7	2.3	12.0	36.6	57.4

¹ The fair value of the IPS business has been calculated as at 31 December 2025.

² NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.

³ Share Price source: LSEG, London Stock Exchange Group.

⁴ Source: Office for National Statistics, subject to latest published RPI, March 2026.

Geographical Split of investment portfolio

Region	% of portfolio 30 April 2026	% of portfolio 31 December 2025
UK	90.6	89.9
Europe	5.1	4.5
North America	3.3	4.3
Japan	0.8	1.0
Other	0.2	0.3
Other Pacific	0	0
TOTAL	100	100

Full Portfolio Listing

As at 30 April 2026 the full holdings of the portfolio comprised of the following:

Holding Name	Location	Sector	Industry	£000	%
HSBC	UK	Financials	Banks	58,492	4.11
Barclays	UK	Financials	Banks	50,042	3.51
Shell	UK	Oil & Gas	Oil & gas producers	41,563	2.92
Ceres Power	UK	Oil & Gas	Oil equipment services & distribution	39,368	2.76
Rio Tinto	UK	Basic Materials	Mining	38,577	2.71
BP	UK	Oil & Gas	Oil & gas producers	33,277	2.33
GlaxoSmithKline	UK	Health Care	Pharmaceuticals & biotechnology	31,627	2.22
Standard Chartered	UK	Financials	Banks	28,601	2.00
Balfour Beatty	UK	Industrials	Construction & materials	22,557	1.58
National Grid	UK	Utilities	Gas, water & multiutilities	22,186	1.55
Relx	UK	Consumer Services	Media	20,383	1.44
Rolls Royce	UK	Industrials	Aerospace & defence	19,204	1.35
IMI	UK	Industrials	Industrial engineering	19,195	1.35
Flutter Entertainment	UK	Consumer Services	Travel & leisure	19,032	1.34
Lloyds Banking Group	UK	Financials	Banks	18,941	1.33
M & G	UK	Financials	Financial services	18,156	1.28
ITM Power	UK	Oil & Gas	Oil equipment services & distribution	18,014	1.27
Infineon Technologies	Germany	Industrials	Electronic & electrical equipment	17,601	1.24
J Sainsbury	UK	Consumer Services	General retailers	17,591	1.24
Anglo American	UK	Basic Materials	Mining	17,373	1.22
BT Group	UK	Telecommunications	Fixed Line Telecommunications	17,320	1.22
Hill & Smith	UK	Industrials	Industrial engineering	17,106	1.20
Herald Investment Trust	UK	Financials	Equity investment instruments	16,890	1.19
Prudential	UK	Financials	Life insurance/assurance	16,843	1.19
NatWest	UK	Financials	Banks	16,673	1.17
Aviva	UK	Financials	Life insurance/assurance	16,040	1.13
Kingfisher	UK	Consumer Goods	Household goods & home construction	15,894	1.12
Marks & Spencer	UK	Consumer Services	General retailers	15,845	1.12
Kier	UK	Industrials	Construction & materials	15,479	1.09
BAE Systems	UK	Industrials	Aerospace & defence	15,319	1.08
Boku	UK	Industrials	Support services	14,931	1.05
Irish Continental Group	Ireland	Consumer Services	Travel & leisure	14,471	1.02
Severn Trent	UK	Utilities	Gas, water & multiutilities	14,220	1.00
AFC Energy	UK	Oil & Gas	Alternative Energy	14,183	1.00
Hiscox	UK	Financials	Nonlife insurance	14,002	0.99
Johnson Matthey	UK	Other	Sustainable Energy	13,494	0.95
IP Group	UK	Financials	Financial services	13,101	0.92
Vodafone	UK	Telecommunications	Mobile telecommunications	12,892	0.91
Cranswick	UK	Consumer Goods	Food producers	12,856	0.91
Land Securities	UK	Financials	Real estate investment trusts	12,835	0.90
Segro	UK	Financials	Real estate investment trusts	12,821	0.90
International Consolidated Airlines	UK	Consumer Services	Travel & leisure	12,798	0.90
Shaftesbury Capital	UK	Financials	Real estate investment trusts	12,797	0.90
Standard Life Aberdeen	UK	Financials	Financial services	11,966	0.84
London Stock Exchange Group	UK	Financials	Financial services	11,938	0.84
Toyota Motor Corporation	Japan	Consumer Goods	Automobiles & parts	11,706	0.82
British Land Company	UK	Financials	Real estate investment trusts	11,598	0.82
Babcock	UK	Industrials	Aerospace & defence	11,051	0.78
Morgan Advanced Materials	UK	Industrials	Electronic & electrical equipment	10,900	0.77
ITV	UK	Consumer Services	Media	10,800	0.76
General Motors	USA	Consumer Goods	Automobiles & parts	10,740	0.76
Standard Life	UK	Financials	Life insurance/assurance	10,576	0.74
SSE	UK	Utilities	Electricity	10,564	0.74
Hammerson	UK	Financials	Real estate investment trusts	10,472	0.74
VH Global Energy Infrastructure	UK	Other	Sustainable Energy	10,304	0.73
Greencoat UK Wind	UK	Utilities	Electricity	9,984	0.70
Chesnara	UK	Financials	Life insurance/assurance	9,747	0.69
Associated British Foods	UK	Consumer Goods	Food producers	9,592	0.68
Reckitt Benckiser Group	UK	Consumer Goods	Household goods & home construction	9,356	0.66
Smith & Nephew	UK	Health Care	Health care equipment & services	9,319	0.66
HICL Infrastructure	UK	Financials	Equity investment instruments	8,918	0.63
Johnson Service Group	UK	Industrials	Support services	8,819	0.62
Sabre Insurance Group	UK	Financials	Nonlife insurance	8,706	0.61
Unilever	UK	Consumer Goods	Personal goods	8,593	0.60
Freeport-McMoran	USA	Basic Materials	Mining	8,493	0.60
Scottish Oriental Smaller Companies Trust	UK	Financials	Equity investment instruments	8,467	0.60
Inchcape	UK	Industrials	Support services	8,262	0.58
Ibstock	UK	Industrials	Construction & materials	8,094	0.57
Weir Group	UK	Industrials	Industrial engineering	7,956	0.56
Marshalls	UK	Industrials	Construction & materials	7,864	0.55
SigmaRoc	UK	Industrials	Construction & materials	7,864	0.55
Oxford Nanopore Technologies	UK	Technology	Advanced Medical Equipment & Technology	7,514	0.53
Gibson Energy	Canada	Oil & Gas	Oil & gas producers	7,476	0.53
Vanquis Banking Group	UK	Financials	Financial services	7,419	0.52
Bristol-Myers Squibb	USA	Health Care	Pharmaceuticals & biotechnology	7,342	0.52
Workspace Group	UK	Financials	Real estate investment trusts	7,321	0.52
Sanofi	France	Health Care	Pharmaceuticals & biotechnology	7,260	0.51
Accsys Technologies	UK	Industrials	Construction & materials	7,181	0.51
Whitbread	UK	Consumer Services	Travel & leisure	6,925	0.49
Haleon	UK	Health Care	Pharmaceuticals & biotechnology	6,800	0.48
Elementis	UK	Basic Materials	Chemicals	6,748	0.48
Zigup	UK	Industrials	Support services	6,694	0.47
Dunelm	UK	Consumer Services	General retailers	6,613	0.47
Berkeley Group Holdings	UK	Consumer Goods	Household goods & home construction	6,396	0.45
Roche Holding	Switzerland	Health Care	Pharmaceuticals & biotechnology	5,808	0.41
Serica Energy	UK	Oil & Gas	Oil & gas producers	5,760	0.41
Ondine Biomedical	Canada	Health Care	Pharmaceuticals & biotechnology	5,755	0.41
Mondi	UK	Basic Materials	Forestry & paper	5,685	0.40
Air Products and Chemicals	Canada	Oil & Gas	Oil & gas producers	5,514	0.39
Great Portland Estates	UK	Financials	Real estate investments & services	5,408	0.38
Oxford Sciences Innovation	UKULM	Financials	Financial services	5,367	0.38
3I INFRASTRUCTURE	UK	Financials	Equity investment instruments	5,201	0.37
Invinity Energy Systems	UK	Oil & Gas	Alternative Energy	5,133	0.36
Croda	UK	Basic Materials	Chemicals	4,986	0.35
Rathbones Group	UK	Financials	Equity investment instruments	4,925	0.35
Safran	France	Industrials	Aerospace & defence	4,781	0.34
XP Power	UK	Technology	Technology hardware & equipment	4,775	0.34
Halfords	UK	Consumer Services	General retailers	4,734	0.33
Castings	UK	Industrials	Construction & materials	4,361	0.31
Vertu Motors	UK	Consumer Services	General retailers	4,328	0.30
Derwent London	UK	Financials	Real estate investment trusts	4,283	0.30
Bellway	UK	Consumer Goods	Household goods & home construction	4,081	0.29
TT Electronics	UK	Industrials	Electronic & electrical equipment	4,080	0.29
Marstons	UK	Consumer Services	Travel & leisure	3,962	0.28
Ilika	UK	Oil & Gas	Alternative Energy	3,765	0.27
Easyjet	UK	Industrials	Aerospace & defence	3,516	0.25
Siemens	Germany	Technology	Software & computer services	3,447	0.24
Greencore Group	Ireland	Consumer Goods	Beverages	3,414	0.24
ASML	Netherlands	Technology	Technology hardware & equipment	3,406	0.24
Reach	UK	Consumer Services	Media	3,341	0.24
Valterra Platinum	Other	Basic Materials	Mining	3,313	0.23
Gelion	UK	Other	Sustainable Energy	3,241	0.23
Munchener Rueckver	Germany	Financials	Nonlife insurance	2,955	0.21
Jubilee Metals Group	UK	Basic Materials	Mining	2,796	0.20
Tate & Lyle	UK	Consumer Goods	Food producers	2,752	0.19
Deutsche Boerse	Germany	Financials	Financial services	2,645	0.19
Seascape Energy Asia	UK	Oil & Gas	Oil & gas producers	2,520	0.18
Next Fifteen Communications Group	UK	Consumer Services	Media	2,380	0.17
Renishaw	UK	Technology	Technology hardware & equipment	2,366	0.17
Breedon Group	UK	Basic Materials	Building Materials	1,965	0.14
SAP	Germany	Technology	Software & computer services	1,821	0.13
Grit Real Estate Income Group	Guernsey	Financials	Real estate investment trusts	1,752	0.12
Hercules Site Services	UK	Industrials	Construction & materials	1,714	0.12
ASM International	Netherlands	Industrials	Electronic & electrical equipment	1,581	0.11
First Tin	UK	Basic Materials	Mining	1,500	0.11
Arbuthnot Banking Group	UK	Financials	Financial services	1,429	0.10
Kistos	UK	Oil & Gas	Oil & gas producers	1,418	0.10
Watkin Jones	UK	Consumer Goods	Household goods & home construction	1,392	0.10
Kone	Finland	Industrials	Electronic & electrical equipment	1,046	0.07
Gran Tierra Energy	Canada	Oil & Gas	Oil & gas producers	1,006	0.07
Windar Photonics	UK	Industrials	Waste & Environ Svcs & Equip	965	0.07
Carclo	UK	Basic Materials	Chemicals	847	0.06
DSM-Firmenich	Netherlands	Basic Materials	Chemicals	827	0.06
Logistics Development Group	UK	Industrials	Industrial transportation	800	0.06
Ampeak Energy	UK	Utilities	Electricity	470	0.03
Surface Transforms	UK	Consumer Goods	Automobiles & parts	85	0.01
Deltic Energy	UK	Oil & Gas	Oil & gas producers	79	0.01

In accordance with UK listing rule 11.7.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed closed-ended investment funds that require to be disclosed.

Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Nicola Lambourne, Company Secretariat, 020 7606 5451).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NAVBXGDUDUGDGLB

Net Asset Value(s).

Compare our accounts