AI Terminal
MAJEDIE INV PLC
Net Asset Value • Feb 5, 2021
5181_rns_2021-02-05_38d2c1af-25e1-4ead-83db-dabb91475781.html
Net Asset Value
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
RNS Number : 1967O
Majedie Investments PLC
05 February 2021
05 February 2021
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 £32.6m as at 31 December 2020. This is an increase of 5% from the valuation at 30 September 2020. On a total return basis, including the dividend received from MAM in December 2020, the return is 15%. The methodology is comprised as follows:
| 30.9.20 | 31.12.20 | |
| Earnings after tax (last 3 months annualised) | £11.8m | £11.7m |
| Peer Group PE multiple | 13.7x | 15.4x |
| Liquidity discount | 20% | 20% |
| Peer group multiple after liquidity discount | 11.0x | 12.3x |
| Performance fee earnings after tax | £1.3m | £2.0m |
| 50% of peer group multiple | 6.9x | 7.7x |
| 50% of peer group PE multiple after liquidity discount | 5.5x | 6.2x |
| Surplus net assets having deducted 200% of Regulatory Capital | £43.7m | £33.4m |
| Valuation of MAM | £180.7m | £189.7m |
| Valuation of the Company's 17.2% holding in MAM | £31.0m | £32.6m |
Enquiries
If you have any enquiries regarding this announcement, please contact Mr William Barlow on 020 7382 8185.
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 [email protected] 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
MSCTAMJTMTMMBFB