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MAJEDIE INV PLC — Earnings Release 2020
Jul 31, 2020
5181_er_2020-07-31_28d3160e-15ba-40e7-9a10-d9c5f9dfa636.html
Earnings Release
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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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