REG-Castelnau Group Limited: Dignity redemption and valuation update

CastelnauAnnouncement

14/11/2025 07:45

14 November 2025

Castelnau Group Limited           
(“Castelnau” or the “Company”)

Dignity redemption and valuation update

Castelnau, an investment company established to invest in public and private
companies with the aim of outperforming the FTSE All Share Index over the long
term, notes that Dignity Finance PLC has today announced the early redemption
of its remaining £39 million Class A notes. This redemption will be funded by
a funeral plan surplus release of £45 million (net of tax)                  
   with the redemption expected on 31 December 2025.

Additionally Castelnau notes that it anticipates that the valuation of its
investment in Valderrama (the holding company for the investment in Dignity
plc) will increase by more than 10% at year-end compared to the valuation as
of 30 September 2025, primarily driven by higher than anticipated cash
generation (including the debt reduction above) and updating for operating
trends in the business.

The impact of this value increase on Castelnau’s NAV should be of a similar
magnitude, given                      that the Company’s investment in
Valderrama represented 106.6% of Castelnau’s net asset value as at 30
September 2025. This indicative valuation is subject to independent review and
audit.

 

Enquiries:                    
          
                     Castelnau Group           
Richard Brown          
                                 info@castelnaugroup.com                      
                   
          
                     Phoenix Asset Management Limited           
+44 (0) 208 600 0100
Gary Channon
Steve Tatters
Gina Bocek

Panmure Liberum
+44 (0) 20 3100 2000
Darren Vickers
Will King          
          
                     Citigate Dewe Rogerson           
+44 (0) 20 7638 9571
Caroline Merrell
Thomas Dalton




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