law debenture corp plc-ord (LWDB) Snapshot

The Law Debenture Corporation plc will appoint Mark Bridgeman as a Non Executive Director. The effective date is March 15, 2013. He spent 19 years with Schroder plc as an analyst and then fund manager, rising to become Global Head of Research. Previous roles at Schroders included Head of Pan European Research, Head of Global Sector Research, and Emerging Markets Fund Manager.

The Law Debenture Corporation plc reported audited group earnings results for the year ended December 31, 2012. For the year, the company reported interest income of £140,000 against £446,000 a year ago. Total income was £44,397,000 against £45,614,000 a year ago. Operating profit was £81,064,000 against £260,000 a year ago. Profit before taxation was £78,614,000 against loss before taxation of £2,190,000 a year ago. Profit was £76,861,000 or 65.34 pence per diluted share against loss of £4,167,000 or 3.55 pence per diluted share a year ago. NAV per share after proposed final dividend as on December 31, 2012 was 374.55 pence against 323.75 pence as on December 31, 2011. NAV per share after proposed final dividend with debt at fair value as on December 31, 2012 was 367.86 pence against 323.75 pence as on December 31, 2011. Operating cash flow was £18,940,000 against £17,915,000 a year ago. Acquisition of property, plant and equipment was £89,000 against £289,000 a year ago. Expenditure on intangible assets was £375,000 against £157,000 a year ago. The directors recommended a final dividend of 9.75 pence per share making a total for the year of 14.25 pence per share. Subject to the approval of shareholders, the final dividend will be paid on 18 April 2013 to holders on the register on the record date of 22 March 2013. The company paid final dividend of 9.0 pence per share in 2011 with a total dividend of 13.5 pence per share. The company announced that Douglas McDougall will retire from the board at the conclusion of the annual general meeting on 10 April 2013. Christopher Smith, who takes over from Douglas McDougall, has a deep understanding of the company.

The Law Debenture Corporation plc, Annual General Meeting, Apr 10, 2013. Location: Brewers Hall, Aldermanbury Square. Agenda: To approve final dividend of 9.75 pence per share for the year 2012; and to approve management changes.