Marwyn Value Inv Ltd Marwyn Value - MVIR - Net Asset Value - 2016 Realisation Shares
29/12/2022 10:05
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RNS Number : 8923K Marwyn Value Investors Limited 29 December 2022
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
29 December 2022
Marwyn Value Investors Limited
Net Asset Value per 2016 Realisation Share
The board of directors of Marwyn Value Investors Limited (the "Company") today
announces that the estimated net asset value per 2016 realisation share of the
Company based on the estimated value of its interests in Marwyn Value
Investors L.P. is £3.28029 as at 16 December 2022. As at 16 December 2022
there were 933,070 2016 realisation shares in issue.
As at 16 December 2022 the closing mid share price of a 2016 realisation share
in the Company was £2.02500 and represented a discount of 38.27% to the net
asset value per 2016 realisation share.
Historic Performance
Estimated Movement over Period (%) Movement over Year to date Total shareholder return inception to date (%) *
NAV per share (£) Month (%) Movement (%)
2022:
December 16 3.28029 -0.0 -0.1 +14.7 +1.3
December 9 3.28185 -0.0 -0.0 +14.7 +1.3
November 30 3.28334 +11.8 +14.8 +1.3
October 31 2.93593 -0.2 +2.7 -0.5
September 30 2.94203 +0.7 +2.9 -0.4
August 31 2.92190 -0.2 +2.2 -0.5
July 29 2.92746 +3.4 +2.4 -0.5
June 30 2.83013 -0.2 -1.0 -1.0
May 31 2.83643 -0.1 -0.8 -1.0
April 29 2.83992 -0.1 -0.7 -1.0
March 31 2.84166 -0.2 -0.6 -0.9
February 28 2.84806 -0.2 -0.4 -0.9
January 31 2.85389 -0.2 -0.2 -0.9
2021:
December 31 2.86004 +25.2 +61.9 -0.9
November 30 2.28510 -0.9 +29.4 -3.8
October 29 2.30585 +0.5 +30.5 -3.8
September 30 2.29429 -0.2 +29.9 -4.0
August 31 2.29918 +2.3 +30.2 -3.9
July 30 2.24748 -0.4 +27.2 -4.9
June 30 2.25552 +1.2 +27.7 -4.8
May 28 2.22915 +4.7 +26.2 -5.3
April 30 2.12899 -0.2 +20.5 -7.3
March 31 2.13284 +26.9 +20.7 -7.2
February 26 1.68115 -3.0 -4.8 -16.3
January 29 1.73284 -1.9 -1.9 -15.3
Settlement of VAT reclaims
To date, a total of £0.525 million has been recognised in the estimated net
asset value per ordinary share relating to the Praesepe VAT reclaims in which
the Master Fund has an interest. The cumulative agreed claims represent
approximately 50% of the estimated gross claims filed with HMRC.
Whilst it is expected that the remaining claims will be settled in an
equivalent manner, there remains significant uncertainty over both the amount
that may be repaid by HMRC and the timing of receipt of any cash, net of fees,
taxes and other expenses by the Master Fund. Accordingly, the estimated net
asset value per 2016 realisation share as at 16 December 2022 does not include
any amounts relating to the settlement of the remaining VAT reclaims.
Following the partial redemption of 2016 realisation shares in November 2021
(distributing the proceeds of Zegona Communications Plc's tender offer), the
number of 2016 realisation shares in issue was reduced from 3,684,055 to
933,070 with a corresponding decrease in total NAV. As a consequence, any
amounts received relating to the VAT settlement will have a proportionally
higher impact on the current NAV of the 2016 realisation shares as compared to
the period prior to the November partial redemption.
* Total shareholder return inception to date is calculated as the movement in
total shareholder value, including all distributions made to 2016 realisation
shareholders since the creation of the 2016 realisation shares on 30 November
2016.
Enquiries to:
Aztec Financial Services (Jersey) Limited
Aztec Group House
11-15 Seaton Place
St Helier
Jersey
JE4 0QH
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