Net Asset Value • Jan 29, 2020
Net Asset Value
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National Storage Mechanism | Additional information
RNS Number : 2224B
Merchants Trust PLC
29 January 2020
The Merchants Trust PLC
29 January 2020
Debt repayment and lower gearing level
The board is pleased to announce that today the company is repaying £16m of debt under its revolving credit facility. This will take the company's total debt to £93m, and gearing to around 15%*. The board and manager decided to reduce gearing after a period of strong equity market and portfolio returns. The board's formal policy is unchanged and is to maintain gearing in the range of 10%-25% (measured at the time that any increase in total borrowing facilities is agreed).
*Unaudited
Enquiries:
Kirsten Salt
Company Secretary
0203 246 7513
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.
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