16 June 2014
MAJEDIE INVESTMENTS PLC
The unaudited consolidated net asset value of the Ordinary shares of the Company
at the close of business on 13 June 2014 was as follows:
With debentures at par value: 248.55 pence per share
The debentures at fair value: 235.13 pence per share
The net asset value published is on a cum-income basis (calculated using income
and expenditure estimates). The fair value of debentures is calculated by using the
yield of UK Treasury Bonds of an equal duration plus a 2.5% risk premium. The board
sees this mechanism as transparent, market related and consistent with best practice.
The published net asset value is ex the 2014 interim 3p dividend.