REG - Marwyn Value Inv Ltd Marwyn Value - MVR2 - Net Asset Value - 2021 Realisation Shares

Marwyn Value InvestorsAnnouncement

09/04/2024 10:15

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RNS Number : 8534J  Marwyn Value Investors Limited  09 April 2024

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

9 April 2024

 

Marwyn Value Investors Limited

Net Asset Value per 2021 Realisation Share

 

The board of directors of Marwyn Value Investors Limited (the "Company") today
announces that the estimated net asset value ("NAV") per 2021 realisation
share of the Company based on the estimated value of its interests in Marwyn
Value Investors L.P. is £2.03206 as at 31 March 2024. As at 31 March 2024
there were 360,482 2021 realisation shares in issue.

 

As at 31 March 2024 the closing mid share price of a 2021 realisation share in
the Company was £1.00000 and represented a discount of 50.79% to the NAV
per 2021 realisation share.

 

Historic NAV Performance

 

               Estimated            Movement over  Year to date   Inception to date shareholder total return (%)(1)  Shareholder total

               NAV per share (£)    Month (%)      Movement (%)                                                      return from creation

                                                                                                                     of class (%)(2)
 2024:

 March 31      2.03206              +1.7           +5.3           +208.6                                             +14.3
 February 29   1.99787              +2.4           +3.5           +203.4                                             +12.4
 January 31    1.95044              +1.1           +1.1           +196.2                                             +9.7

 2023:

 December 31   1.93000              +5.1           +4.2           +193.1                                             +8.6
 November 30   1.83619              +0.9           -0.9           +178.9                                             +3.3
 October 31    1.82070              -0.1           -1.7           +176.5                                             +2.4
 September 30  1.82201              -0.1           -1.7           +176.7                                             +2.5
 August 31     1.82456              +1.6           -1.5           +177.1                                             +2.6
 July 31       1.79628              -0.2           -3.0           +172.8                                             +1.0
 June 30       1.80051              -0.2           -2.8           +173.5                                             +1.3
 May 31        1.80342              +1.2           -2.7           +173.9                                             +1.4
 April 30      1.78236              -0.4           -3.8           +170.7                                             +0.3
 March 31      1.78897              -3.9           -3.4           +171.7                                             +0.6
 February 28   1.86226              +0.5           +0.5           +182.8                                             +4.7
 January 31    1.85347              +0.0           +0.0           +181.5                                             +4.3

 

 

Based upon the Company's indirect investments, the estimated allocation of the
Ordinary Share NAV is:

 

 2021 Realisation Shares         Total Value (£m)(3)   NAV/pence per 2021 Realisation Share  % of NAV
 Investment Portfolio
 Quoted investments
 AdvancedAdvT                    0.13                  36.0                                  17.7%
 Marwyn Acquisition Company II   0.06                  17.1                                  8.4%
 Marwyn Acquisition Company III  0.06                  17.1                                  8.4%
 Zegona Communications           0.07                  18.5                                  9.1%
 450                             0.03                  8.9                                   4.4%
 Unquoted investments
 Le Chameau(4)                   0.18                  49.6                                  24.4%
 Total Value                     0.53                  147.2                                 72.4%
 Cash                            0.26                  72.4                                  35.7%
 Other assets / liabilities      (0.06)                (16.5)                                (8.1)%
 Net Asset Value                 0.73                  203.2                                 100.0%

 

 

Notes

(1)Inception to date shareholder total return is calculated based on the
ordinary share performance up to the date the ordinary shares were converted
to 2021 realisation shares on 30 November 2021, then movement in total
shareholder value, including all distributions made to 2021 realisation
shareholders from that date.

(2)Shareholder total return from creation of class is calculated as the
movement in total shareholder value, including all distributions made to 2021
realisation shareholders since the creation of the 2021 realisation shares on
30 November 2021.

(3)Portfolio 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.

(4)The investment in Le Chameau is held through Silvercloud Holdings Limited
("Silvercloud"), with the value allocated to Le Chameau being the value of
attributable to each share class of Marwyn Value Investors L.P.'s holding in
Silvercloud.

 

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

IFC6

The Esplanade

St Helier

Jersey

JE4 0QH

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