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
LEI: 213800L5751QTTVEA774
16 July 2024
Marwyn Value Investors
Limited
Net Asset
Values
The board of directors of Marwyn
Value Investors Limited (the "Company") today announces the following
estimated net asset value ("NAV") information, based on the estimated value of its interests in Marwyn Value
Investors L.P. as at 5 July 2024:
Ordinary
Shares
The estimated NAV per Ordinary Share is £1.861. Based upon the Company's indirect investments, the estimated
allocation of the Ordinary Share NAV is:
|
Ordinary Shares
|
Total Value
(£m)1
|
NAV/pence per Ordinary
Share
|
% of NAV
|
|
Investment Portfolio
|
|
|
|
|
Quoted
investments
|
|
|
|
|
AdvancedAdvT
|
22.6
|
40.7
|
21.9%
|
|
MAC Alpha
|
1.0
|
1.8
|
1.0%
|
|
Marwyn Acquisition Company
II
|
21.5
|
38.8
|
20.9%
|
|
Marwyn Acquisition Company
III
|
5.9
|
10.6
|
5.7%
|
|
Zegona Communications
|
12.4
|
22.3
|
12.0%
|
|
450
|
5.1
|
9.2
|
4.9%
|
|
Unquoted
investments
|
|
|
|
|
Le Chameau2
|
28.4
|
51.2
|
27.5%
|
|
Palmer Street
|
6.4
|
11.5
|
6.2%
|
|
Total Value
|
103.2
|
186.0
|
100.0%
|
|
Cash3
|
9.4
|
16.9
|
9.1%
|
|
Other assets /
liabilities
|
(9.4)
|
(16.9)
|
(9.1)%
|
|
Net
Asset Value
|
103.3
|
186.1
|
100.0%
|
2016 Realisation
Shares
The estimated NAV per 2016 Realisation Share is £4.147.
Based upon the Company's indirect investments, the
estimated allocation of the 2016 Realisation Share NAV
is:
|
2016 Realisation Shares
|
Total Value
(£m)1
|
NAV/pence per 2016
Realisation Share
|
% of NAV
|
|
Investment Portfolio
|
|
|
|
|
Quoted
investments
|
|
|
|
|
Zegona Communications
|
0.2
|
31.3
|
7.5%
|
|
Unquoted
investments
|
|
|
|
|
Le Chameau2
|
2.4
|
350.5
|
84.5%
|
|
Total Value
|
2.6
|
381.8
|
92.1%
|
|
Cash
|
0.7
|
108.8
|
26.2%
|
|
Other assets /
liabilities
|
(0.5)
|
(75.9)
|
(18.3)%
|
|
Net
Asset Value
|
2.8
|
414.7
|
100.0%
|
2021 Realisation
Shares
The estimated NAV per 2021 Realisation Share is £2.081.
Based upon the Company's indirect investments, the
estimated allocation of the 2021 Realisation Share NAV
is:
|
2021 Realisation Shares
|
Total Value
(£m)1
|
NAV/pence per 2021
Realisation Share
|
% of NAV
|
|
Investment Portfolio
|
|
|
|
|
Quoted
investments
|
|
|
|
|
AdvancedAdvT
|
0.14
|
39.5
|
19.0%
|
|
Marwyn Acquisition Company
II
|
0.14
|
37.6
|
18.1%
|
|
Marwyn Acquisition Company
III
|
0.06
|
17.1
|
8.2%
|
|
Zegona Communications
|
0.08
|
21.4
|
10.3%
|
|
450
|
0.03
|
8.9
|
4.3%
|
|
Unquoted
investments
|
|
|
|
|
Le Chameau2
|
0.18
|
49.6
|
23.8%
|
|
Total Value
|
0.63
|
174.1
|
83.7%
|
|
Cash3
|
0.18
|
50.4
|
24.2%
|
|
Other assets /
liabilities
|
(0.06)
|
(16.4)
|
(7.9)%
|
|
Net
Asset Value
|
0.75
|
208.1
|
100.0%
|
Notes
1Portfolio investments are held at fair value in accordance
with International Financial Reporting Standards ("IFRS"). Quoted investments with
sufficient volume and frequency of trading to constitute an 'active
market' under IFRS are held at their listed price on the valuation
date. Unquoted investments, and quoted investments where there is
no active market, are valued in accordance with International
Private Equity and Venture Capital guidelines on a quarterly basis
or whenever there is a material change in the investment which
would indicate a significant change in valuation.
2The investment in Le Chameau is held through Silvercloud
Holdings Limited ("Silvercloud"), with the value allocated
to Le Chameau being the value attributable to each share class of
Marwyn Value Investors L.P.'s holding in Silvercloud.
3Includes cash to be received from the repurchase of securities
in Marwyn Acquisition III Limited, as announced by the Company on
12 July 2024.
Shares in the Company are not
designed or intended for retail investors. Marwyn Investment
Management LLP, the Manager, does not promote shares in the Company
to retail investors and they should not be offered to retail
investors.
Enquiries to:
marwyn@aztecgroup.co.uk
Aztec Financial Services (Jersey)
Limited
Aztec Group House
PO Box 730
IFC 6, The Esplanade
St. Helier
Jersey JE4 0QH