REG - Malin Corp PLC - Update on Outstanding Litigation

MalinAnnouncement

17/08/2022 07:00

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RNS Number : 2379W  Malin Corporation PLC  17 August 2022

Malin Corporation plc

 

Update on outstanding litigation

 

Dublin-Ireland, 17 August 2022: Malin Corporation plc. (Euronext Growth
Dublin:MLC) ("Malin" or "the Company"), a company investing in highly
innovative life sciences companies, gives this update in relation to
outstanding litigation.  The Company announced on 13 October 2021 that Irish
High Court proceedings had been initiated by the holders of 2,803,801 A
Ordinary Shares in the Company ("the Founders") against the Company claiming
an entitlement to the conversion of their A Ordinary Shares into Ordinary
Shares.

 

The Company now confirms that one of the Founders, Crow Rock Capital Limited,
the holder of 787,032 A Ordinary Shares, has withdrawn its claim against Malin
in those proceedings and surrendered its A Ordinary Shares to the Company.

 

As previously announced, the Company rejected the conversion notices
previously submitted to the Company by the Founders, on the basis that no
change of control has occurred and the conversion rights carried by A Ordinary
Shares are not currently exercisable.

 

The Board will take all necessary steps to vigorously defend the Company and
shareholders against the remaining Founders' claims in the proceedings.

 

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, Company Secretary

Tel: +353 (0)1 901 5700

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

 

Davy Corporate Finance (Euronext Growth Listing Sponsor & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

 

Liberum (Joint Broker)

Phil Walker / Ben Cryer

Tel: +44 (0) 20 3100 2000

Powerscourt (Media enquiries)

Eavan Gannon

Tel: +353 87 236 5973

malin@powerscourt-group.com (mailto:malin@powerscourt-group.com)

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