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Ludgate Environmental : LEF – cut in NAV

Between the 30 September 2013 and 31 December 2013 LEF’s NAV fell from 85p per share to 70.8p per share. 5p of the fall reflects a distribution that was made to shareholders, the rest is mainly a reduction in the carrying value of ECO Plastics as LEF changed they way they valued and accounted for that company.

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