MAJEDIE INV PLC

Earnings Release • Jul 31, 2020

National Storage Mechanism | Additional information

RNS Number : 6767U

Majedie Investments PLC

31 July 2020

31 July 2020

LEI: 2138007QEY9DYONC2723

Majedie Investments PLC

Quarterly Majedie Asset Management Valuation

In accordance with the revised valuation basis, the Company's holding in Majedie Asset Management has been valued at £31.8m as at 30 June 2020. This is an increase of 7.9% from the valuation at 31 March 2020 (net of the dividend of £1.2m that was received from MAM in June). The methodology is comprised as follows:

Earnings after tax (last 3 months annualised)	£10.9m
Peer Group PE multiple	16.4x
Liquidity discount	20%
Peer group multiple after liquidity discount	13.1
Performance fee earnings after tax	£0.1m
50% of peer group multiple	8.2x
50% of peer group PE multiple after liquidity discount	6.6x
Surplus net assets having deducted 200% of Regulatory Capital	£41.7m
Valuation of MAM	£185.2m
Valuation of the Company's 17.2% holding in MAM	£31.8m

Enquiries

If you have any enquiries regarding this announcement, please contact Mr William Barlow on 020 7382 8185.

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