REG - Malin Corp PLC - Results of Tender Offer

MalinAnnouncement

21/03/2025 07:15

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RNS Number : 5789B  Malin Corporation PLC  21 March 2025

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THIS ANNOUNCEMENT

 

21 March 2025

 

Malin Corporation plc

("Malin" or the "Company")

Full Take Up of Tender Offer

 

 

Malin today announces the results of the Tender Offer, as set out in the
circular published by the Company on 19 February 2025 (the "Circular"). The
Tender Offer closed at 1.00 pm on 20 March 2025 (the "Closing Date").

 

The Tender Offer was oversubscribed and, accordingly, the maximum number of
Ordinary Shares authorised by shareholders under the Tender Offer, being
14,563,106 Ordinary Shares, will be acquired for a total cost of approximately
€150 million. This represents approximately 77.1% of the issued ordinary
share capital of the Company, as at the date of this announcement.

 

Qualifying Shareholders who tendered Ordinary Shares equal to or less than
their Individual Basic Entitlement will have their tender accepted in full.
Following application of the scale-back mechanism as outlined in the Circular,
Qualifying Shareholders who validly tendered in excess of their Individual
Basic Entitlement will have their tender accepted in respect of their
Individual Basic Entitlement plus approximately 1.0% of the number of Ordinary
Shares in excess of their Individual Basic Entitlement that they validly
tendered.(1)

 

Under the terms of the Option Agreement, Davy may require the Company to
acquire the Ordinary Shares purchased by Davy pursuant to the Tender Offer and
it is expected that the acquisition by the Company of such Ordinary Shares
will be completed later today. A further announcement will be made by the
Company in that respect in due course.

 

It is anticipated that for Qualifying Registered Shareholders, a cheque will
be dispatched for the proceeds of any sale no later than 3 April 2025. For
Qualifying Euroclear Participants, it is anticipated that, their cash accounts
will be credited with the relevant Tender Offer proceeds no later than 3 April
2025.

 

Capitalised words and expressions in this announcement shall, unless the
context provides otherwise, have the same meaning as in the Circular.

 

(1) Note: Euroclear Nominees is the Shareholder through which Euroclear
Participants and CDI Holders hold interests in Ordinary Shares. Accordingly,
Qualifying Euroclear Participants and Qualifying CDI Holders should note that
Euroclear Bank will calculate and apply its own proration with respect to the
Ordinary Shares successfully tendered by Euroclear Nominees on behalf of
Qualifying Euroclear Participants and Qualifying CDI Holders.

 

ENDS

 

About Malin Corporation plc

 

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative
life sciences companies. Its purpose is to create shareholder value through
the application of long-term capital and operational and strategic expertise
to a diverse range of global healthcare businesses. Malin has a focus on
innovative businesses underpinned by exceptional science and works with its
investee companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and domiciled in
Ireland and listed on the Euronext Growth Dublin. For more information visit
www.malinplc.com (http://www.malinplc.com) .

 

 

For further information please contact:

 

Malin

Fiona Dunlevy, CEO/Company Secretary

Tel: +353 (0)1 901 3531

cosec@malinplc.com (mailto:cosec@malinplc.com)

 

Davy Corporate Finance (Financial Adviser, Euronext Growth Listing Sponsor
& Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

 

Sodali & Co (Media enquiries)

Eavan Gannon

Tel: +353 87 236 5973

eavan.gannon@sodali.com (mailto:eavan.gannon@sodali.com)
 

 

 

Important Notices

 

This announcement contains Inside Information.

 

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer, to purchase or repurchase securities in any
jurisdiction or constitute a recommendation or advice in respect of any
securities or other financial instruments or any other matter. Malin
shareholders are advised to read carefully the Circular. Any response to the
Tender Offer should be made only on the basis of the information in the
Circular.

 

Davy, which is regulated in Ireland by the Central Bank, is acting exclusively
for Malin and no-one else in connection with the matters described in this
announcement. Davy will not regard any other person (whether or not a
recipient of this announcement) as its customer or be responsible to any other
person for providing the protections to customers of Davy nor for providing
advice in relation to the transactions and arrangements described in this
announcement. Davy is not making any representation or warranty, express or
implied, as to the contents of this announcement. Davy has not approved the
contents of, or any part of, this announcement and no liability whatsoever is
accepted by Davy for the accuracy of any information or opinions contained in
this announcement or for the omission of any information from this
announcement.

 

Forward-looking Statements

This announcement contains certain forward-looking statements with respect to
the financial condition, results of operations and business of the Group and
certain plans and objectives of the Board, that are subject to risk factors
associated with, amongst other things, the economic and business circumstances
occurring from time to time in the countries, sectors and business segments in
which the Group operates. These factors include, but are not limited to, those
discussed in Part 4 (Risk Factors Related to the Tender Offer) of the
Circular. These forward-looking statements can be identified by the fact that
they do not relate only to historical or current facts. Forward looking
statements often use words such as "anticipate", "target", "expect",
"estimate", "intend", "plan", "goal", "believe", "will", "may", "should",
"would", "could" or other words of similar meaning. These statements are based
on assumptions and assessments made by the Board in light of its experience
and perception of historical trends, current conditions, expected future
developments and other factors it believes appropriate. By their nature,
forward-looking statements involve risk and uncertainty, and the factors
described in the context of such forward-looking statements in this document
could cause actual results or developments to differ materially from those
expressed in or implied by such forward-looking statements.

 

Should one or more of these risks or uncertainties materialise, or should
underlying assumptions prove incorrect, actual results may vary materially
from those described in this document. Malin assumes no obligation to update
or correct the information contained in this document, whether as a result of
new information, future events or otherwise, except to the extent required by
law or the Euronext Growth Rules.

 

The statements contained in this announcement are made as at the date of this
announcement, unless some other time is specified in relation to them, and
publication of this document shall not give rise to any implication that there
has been no change in the facts set out in this document since such date.
Nothing contained in this announcement shall be deemed to be a forecast,
projection or estimate of the future financial performance of Malin except
where expressly stated.

 

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