REG - Marwyn Value Inv Ltd Marwyn Value - MVIR - 2016 Realisation Share Redemption

Marwyn Value InvestorsAnnouncement

22/09/2023 10:15

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RNS Number : 2814N  Marwyn Value Investors Limited  22 September 2023

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

 

22 September 2023

 

MARWYN VALUE INVESTORS LIMITED (THE "COMPANY")

 

2016 REALISATION SHARE REDEMPTION

 

On 8 September 2023, the Company announced that the proceeds received from the
historic Praesepe VAT reclaims attributable to holders of the Company's 2016
realisation shares (the "2016 Realisation Shareholders") will be distributed
in accordance with the terms of the Company's realisation class.

The Company can now confirm that, subject to rounding as described below,
£880,286 will be returned to 2016 Realisation Shareholders and 26.694 per
cent. of the Company's issued realisation shares will be redeemed on the
redemption date (being 5 October 2023) (the "Redemption Date").  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.

By way of illustration and based on the estimated Net Asset Value ("NAV") per
realisation share as at 8 September 2023, a holder at the record date of 1,000
realisation shares with an aggregate NAV of £3,534.24 would:

-       be entitled to an aggregate return of £943.43 (before rounding
down the number of realisation shares to be redeemed to the nearest whole
number of realisation shares);

-          have 266 of their realisation shares, with an aggregate
NAV of £940.11, redeemed; and

-          continue to hold realisation shares with an aggregate NAV
of £2,594.13.

 

The existing ISIN of the realisation shares (KYG5897M4066, the "Old ISIN")
will expire following the close of business on the Redemption Date.  The new
ISIN of the Company's realisation shares post the redemption (KYG5897M2326,
the "New ISIN") will be enabled from 8.00 a.m. on 6 October 2023.  Up to
close of business on the Redemption Date, realisation shares will be traded
under the Old ISIN.  Purchases of realisation shares that are unsettled as at
the close of business on the Redemption Date will be transformed automatically
by CREST and will settle under the New ISIN with an accompanying delivery of
cash through CREST in respect of the pro rata redemption proceeds. 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 20 October 2023.

The timetable for the redemption is set out below:

Expected Timetable:

 Record date for redemption                      6.00 p.m. on 5 October 2023
 Redemption date                                 5 October 2023
 Admission of Realisation Shares under new ISIN  8.00 a.m. on 6 October 2023
 Ex-date                                         6 October 2023
 Payment of the redemption proceeds              On or before 20 October 2023

 

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:

Aztec Financial Services (Jersey) Limited

Aztec Group House

11-15 Seaton Place

St Helier

Jersey

JE4 0QH

 

 

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