02 June 2014
MAJEDIE INVESTMENTS PLC
The unaudited consolidated net asset value of the Ordinary shares of the Company
at the close of business on 30 May 2014 was as follows:
With debentures at par value: 253.07 pence per share
With debentures at fair value: 238.63 pence per share
The net asset value published is on a cum-income basis (calculated using income
and expenditure estimates). The Board has changed the method of calculation of
the fair value of debentures. It has decided the most appropriate method is to use
the market yield of UK Treasury Bonds of equal duration plus 2.5%. The Board sees
this mechanism as transparent, market related and consistent with best practice.
This was noted in the Interim Statement published on 30th May 2014.