Marwyn Value Investors Limited Distribution to Realisation Shareholders (1586P)
October 15 2021 - 1:00AM
UK Regulatory
TIDMMVI TIDMMVIR
RNS Number : 1586P
Marwyn Value Investors Limited
15 October 2021
LEI: 213800L5751QTTVEA774
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF
THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE
UNLAWFUL TO DO SO
15 October 2021
MARWYN VALUE INVESTORS LIMITED (THE "COMPANY")
DISTRIBUTION TO REALISATION SHAREHOLDERS
Further to the announcement made by the Company on 8 October
2021, Zegona Communications plc ("Zegona") has completed a tender
offer at GBP1.535 per Zegona ordinary share, resulting in total
proceeds of GBP335 million being returned to its shareholders
following the sale of Euskaltel to MasMovil.
The Marwyn Funds successfully tendered 41,287,713 Zegona
ordinary shares representing 98.16% of the Marwyn Funds' holding,
resulting in proceeds of GBP45,425,386 attributable to the
Company's ordinary shares and GBP6,686,881 attributable to the
Company's realisation shares (the "Realisation Shareholders") (the
"Zegona Realisation Share Proceeds"). The amount attributable to
the ordinary shares will be used as outlined in the announcement
made on 8 October 2021.
The Zegona Realisation Share Proceeds, along with cash held by
the Master Fund attributable to Realisation Shareholders of
GBP900,000 which is not required to be held for reasonable working
capital purposes, will be distributed to the Realisation
Shareholders in accordance with the terms of the Company's
realisation class. Of the total amount of GBP7,586,881 to be
distributed, it is expected that approximately:
- GBP6,360,785 will be returned to the Realisation Shareholders (the "Distribution"); and
- GBP1,226,096 will be distributed by the Master Fund as the related incentive allocation.
The Distribution will be effected by way of a compulsory
redemption undertaken pro rata to holdings of realisation shares on
the register as at the close of business on the record date for the
redemption, being 4 November 2021. The number of realisation shares
to be redeemed will be determined by reference to the estimated net
asset value per realisation share ("NAV") as at 15 October
2021.
The NAV as at 15 October 2021, the number of realisation shares
that will be redeemed and the amount of the Distribution will be
announced by the Company on 27 October 2021. As fractions of
realisation shares will not be redeemed, the number of realisation
shares held by each Realisation Shareholder to be redeemed will be
rounded down to the nearest whole number of realisation shares.
As at the date of this announcement, the Company has 3,684,055
realisation shares in issue. All of the realisation shares redeemed
on the redemption date will be cancelled. A further announcement
will be released following the record date to confirm the new
number of realisation shares in issue.
Further details on the changes to the ISIN of the realisation
shares caused by the redemption will be announced on or before 4
November 2021. The payment of the redemption monies to eligible
holders of realisation shares is expected to be effected through
CREST (in the case of holders of depository interests relating to
the realisation shares) or by cheque (in the case of realisation
shares held in certificated form) by 19 November 2021.
Expected Timetable:
NAV as at 15 October 2021 and
estimate of Realisation shares
to be redeemed announced 27 October 2021
Record date for redemption 6.00 p.m. on 4 November 2021
Redemption date 4 November 2021
Admission of realisation shares 8.00 a.m. on 5 November 2021
under new ISIN
Ex-date 5 November 2021
Payment of the redemption proceeds On or before 19 November 2021
Company enquiries:
Company Secretary - Aztec Financial Services (Jersey)
Limited
Katrina Boult / Jenny Keen
Telephone: 01534 833000
Kam Bansil - Investor Relations
Telephone: 020 7039 1901
Corporate Broker - Liberum Capital Limited
Chris Clarke / Owen Matthews
Telephone: 0203 100 2200
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
FURMIBRTMTMBBMB
(END) Dow Jones Newswires
October 15, 2021 02:00 ET (06:00 GMT)
Marwyn Value Investors (LSE:MVI)
Historical Stock Chart
From Apr 2024 to May 2024
Marwyn Value Investors (LSE:MVI)
Historical Stock Chart
From May 2023 to May 2024