Admission to AIM
Marwyn Value Investors II Ltd
06 October 2006
6 October 2006
Marwyn Value Investors II Limited
Admission to AIM
Shares and warrants in Marwyn Value Investors II Limited (the 'Company') begin
trading on the Alternative Investment Market of the London Stock Exchange today
(symbol: MVI) following a successful placing to institutional investors.
The Company is a fund established to invest in the Marwyn Neptune Fund LP
('Marwyn Neptune Fund'), a Cayman Islands exempted limited partnership
principally established to invest in UK and European small and mid-cap
companies. An initial £33m fundraising has been completed through the issue of
33 million ordinary shares with a further potential for up to £40.4m through the
future exercise of issued callable warrants based upon the Company's share price
performance.
Significant investors include GLG, Ecofin, Bluecrest, Modulus, QVT, Fidelity and
Orn Capital.
David Williams, Chairman of the Company, said: 'We are delighted to announce the
admission to AIM of Marwyn Value Investors II following the successful launch of
Marwyn Value Investors earlier this year. The launch introduces a number of
additional institutions to the fund with whom, together with our existing
investors, we look forward to working in the near future.'
Marwyn Investment Management LLP ('Marwyn') is investment manager to the Company
and the Marwyn Neptune Fund. Marwyn seeks to combine best practice private
equity disciplines within the context of the public markets with the objective
of achieving maximum total returns.
The listing of the Company follows the successful launch on 23 February 2006 of
Marwyn Value Investors ('MVI'), the initial listed company established to invest
in the Marwyn Neptune Fund. Since listing, MVI has returned 39% net asset value
growth as at 30 September 2006 (based on a starting net asset value of 95p).
Highlights
• Marwyn Neptune Fund has returned 40.2% net asset value growth since its
inception on 1 March 2006
• The Company is a Guernsey incorporated closed-ended investment company,
offering exposure to investments in UK and European small and mid-cap
companies with market capitalisations of up to £500m
• £33m raised by a placing of ordinary shares at 100p per share to
institutional investors and hedge funds
• Two detachable and separately traded warrants issued for every two
ordinary shares: Series One exercisable within 2 years at 115p (symbol:
MVI1); Series Two exercisable within 3 years at 130p (symbol: MVI2)
• Pipeline of immediate and significant deal opportunities with further
investment opportunities identified for the remainder of 2006 and 2007 which
have a funding requirement of up to £1bn
• Intention to launch a number of acquisition vehicles by early 2007 which
will collectively target a broad range of sectors
• Application of best practice private equity disciplines within a public
market context through the provision to investee companies and management
teams of 'hands-on' execution capability to deliver on acquisition led
strategies. Benefit of strong relationships with institutional investors and
other providers of finance together with a broad network of advisors
Enquiries:
Finsbury 020 7251 3801
Don Hunter
Talia Druker
Investment Approach of the Marwyn Neptune Fund
• Focus on sectors where regulatory and/or structural change creates
opportunities to leverage new or unrecognised capital value
• Recruit and support proven management teams to develop and execute both
organic and acquisition led strategies
• Offer investee companies and management teams the benefit of strong
relationships with institutions and other providers of finance together with
access to a broad network of advisors
Board of Directors of the Company
David Williams, Executive Chairman
David has 35 years' experience in the investment market and has chaired a range
of public and private companies in both executive and non-executive roles. He is
currently Chairman of Aldgate Capital Plc, Augean plc, Concateno plc, Marwyn
Value Investors Limited, Silverdell Plc, Talarius Plc and Zetar Plc, as well as
Chairman of Marwyn Investments Group Limited.
Robert Ware, Executive Director
Robert was previously deputy chief executive of MEPC, which was the fourth
largest property company quoted on the London Stock Exchange until it was taken
private in 2000 together with GE and Hermes. During his six years at MEPC,
Robert and the team realised over £6bn of international properties and invested
over £2bn, mostly in the UK.
Prior to joining MEPC, Robert was a director of Development Securities plc.
Robert is Executive Chairman of Conygar Investment Company PLC, senior
non-executive director of Tarsus Group plc and a non-executive director of Raven
Mount plc, Talarius plc and Wyevale Garden Centres PLC, as well as an executive
director of Marwyn Value Investors Limited.
David Warr, Non-executive Director
David qualified as a Chartered Accountant in 1976 and has worked for the Fortis
Guernsey Group since 1972, progressing to audit manager and ultimately to audit
partner in 1981. Subsequently, the Fortis Guernsey Group developed into a more
broadly based financial services business and as a consequence, David
specialised in offshore fiduciary services. David is an Executive Director of
Fortis Reads International Management Limited and is currently the engagement
director for a number of substantial trust clients.
Ian Clarke, Non-executive Director
Ian moved to Guernsey, where he is now resident, in 1987 and has specialised in
providing offshore fiduciary services since then. Ian is a Director of Fortis
Fund Services (Guernsey) Limited, part of the Fortis Guernsey Group and is
responsible for the administration of a number of closed ended property funds
and AIM listed investment vehicles. In addition Ian has experience in managing
complex trust and corporate structures.
Investment Managers
James Corsellis
James is a director of Marwyn Investments Group Limited, a partner in Marwyn
Capital LLP and Marwyn Investment Management LLP and is Deputy Chairman of
Catalina Holdings Limited, as well as a director of Aldgate Capital Plc. Since
September 2004, he and Mark Watts have undertaken 21 transactions, raising an
amount in excess of £600m for Marwyn-backed management teams and special purpose
acquisition vehicles. He was formerly CEO of icollector plc, a leading provider
of live auction trading platforms.
Mark Watts
Mark is a director of Marwyn Investments Group Limited, a partner in Marwyn
Capital LLP and Marwyn Investment Management LLP, as well as a director of
investee companies Silverdell Plc, Inspicio Plc, Talarius Plc and Aldgate
Capital Plc. Since September 2004, he and James Corsellis have undertaken 21
transactions, raising an amount in excess of £600m for Marwyn-backed management
teams and special purpose acquisition vehicles. Mark previously worked as a
management consultant on international strategic development projects for
clients including Ford Motor Company (US), 3M (Europe) and financial analysis
and modelling for Barclays Bank, Shell and BP in the UK. He has advised the
boards of quoted UK small and mid-cap companies since 1998.
Use of Placing Proceeds
The entire net proceeds of the placing will initially be invested in the Marwyn
Neptune Fund.
This information is provided by RNS
The company news service from the London Stock Exchange