MAJEDIE INVESTMENTS PLC
The unaudited consolidated net asset value of the Ordinary shares of the Company
at the close of business on 20 June 2014 was as follows:
With debentures at par value: 248.36 pence per share
The debentures at fair value: 235.05 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 2.5% risk premium.
The Board sees this mechanism as transparent, market related and consistent
with best practice.
23 June 2014