£m Pence per share
Net Asset Value as at 30th September 2018 183.6 105.1
Net Income for period 1.3 0.8
Valuation change 0.9 0.5
Dividend paid (1.3) (0.7)
Net capital reduction (3.4) (2.0)
Impact of reduction in number of shares3 2.2
Net Asset Value as at 31st December 2018 181.1 105.9

3 The increase in Net Asset Value per share from the share buyback was due to purchasing shares at a discount to NAV.