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Net Asset Value(s)

Released 11:40 10-Jul-2014

RNS Number : 9768L
Scottish Investment Trust PLC
10 July 2014



Net asset values per share (NAVs) at 9 July 2014


Cum - income                                 

NAV with borrowings at market value  


NAV with borrowings at par           



Ex - income                                  


NAV with borrowings at market value  



NAV with borrowings at par           






In line with our reporting policy, the NAVs are calculated taking the valuation of investments at closing bid or last price as the case may be. NAVs are unaudited. 


Borrowings at market value is the company's estimate of the "fair value" of its borrowings. The current estimated fair value of the company's borrowings is based on the redemption yield of the relevant existing reference gilt plus a margin derived from the spread of BBB UK corporate bond yields (15 years+) over UK gilt yields (15 years+). The reference gilt for the secured bonds is the 6% UK Treasury Stock 2028 and the reference gilt for the perpetual debenture stocks is the longest dated UK Treasury stock listed in the Financial Times.


"Borrowings at par" is the nominal value of the borrowings less any unamortised issue expenses. 



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Net Asset Value(s) - RNS