TCGA92/S272 (3)

This guidance only applies to shares and securities quoted on the Stock Exchange Daily Official List. See CG59514 for guidance on shares and securities quoted on a recognised overseas stock exchange.

Valuations up to 5 April 2015

The market value of any share or security quoted on the Stock Exchange Daily Official List is usually either

the lower of the two quotations on any day plus one quarter of the difference between the values, the `1/4 up value'

the mid-point between the highest and lowest prices at which bargains were done on the day except bargains at special prices.

WHICHEVER IS THE LOWER. See the example below.

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