MAJEDIE INV PLC

Net Asset Value • Aug 17, 2021

National Storage Mechanism | Additional information

RNS Number : 9509I

Majedie Investments PLC

17 August 2021

17 August 2021

LEI: 2138007QEY9DYONC2723

Majedie Investments PLC

Quarterly Majedie Asset Management Valuation

The Company's holding in Majedie Asset Management has been valued at £24.8m as at 30 June 2021. This is in accordance with the valuation basis announced in 2020 and as in the valuation at 31 March 2021, reflects the notified outflow from St James's Place that did not take place until July 2021. The Company received a dividend, from MAM, of £1.2m in May 2021.

	31.3.21	30.6.21
Management fee earnings after tax (last 3 months annualised)	£8.3m	£8.1m
Peer Group PE multiple	14.7x	14.8x
Liquidity discount	20%	20%
Peer group multiple after liquidity discount	11.8x	11.8x
Management fee value	£97.9m	£95.6m
Performance fee earnings after tax	£2.2m	£2.6m
50% of peer group multiple	7.4x	7.4x
50% of peer group PE multiple after liquidity discount	5.9x	5.9x
Performance fee value	£13.0m	£15.3m
Surplus net assets having deducted 200% of Regulatory Capital	£36.4m	£33.3m
Valuation of MAM	£147.3m	£144.2m
Valuation of the Company's 17.2% holding in MAM	£25.3m	£24.8m

Enquiries

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

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