NAV & update on partial cash redemption

RNS Number : 3288X

Marwyn Value Investors Limited

09 January 2014

 



9 January 2014

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share and announcement of the number of ordinary shares to be redeemed

The board of directors of Marwyn Value Investors Limited (the "Company") today announce that the estimated net asset value per ordinary share of the Company based on the estimated value of its interests in the Marwyn Value Investors L.P. is £2.59085 as at 31 December 2013. As at 31 December 2013, there were 66,106,473 ordinary shares and 16,050,000 exchange shares in issue.

As at 31 December 2013 the closing mid share price of an ordinary share in the Company was £1.825 and represented a discount of 29.6% to the net asset value per ordinary share.

Historic Performance

	Estimated NAV (£) *	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	Inception to date (%) **
2013:
December 31	2.59085	+3.7	+2.7	+38.5	+233.6
December 13	2.49731	+1.9	-1.0	+33.5	+221.6
December 6	2.45119	-2.8	-2.8	+31.0	+215.6
November 29	2.52234		-1.0	+34.8	+224.8
November 22	2.48492		-2.5	+32.8	+220.0
November 15	2.50370		-1.7	+33.8	+222.4
November 8	2.54612		-0.1	+36.1	+227.8
October 31	2.54743		+9.6	+36.1	+228.0
September 30	2.32412		+3.1	+24.2	+199.3
August 30	2.25437		+3.5	+20.5	+190.3
July 31	2.17790		+3.5	+16.4	+180.4
June 28	2.10505		-0.8	+12.5	+171.1
May 31	2.12185		+2.6	+13.4	+173.2
April 30	2.06839		+1.8	+10.5	+166.3
March 28	2.03236		-2.1	+8.6	+161.7
February 28	2.07505		+6.6	+10.9	+167.2
January 31	1.94739		+4.1	+4.1	+150.8

Prepared on the following basis:

* Ordinary shares in the Company acquired by Marwyn Value Investors L.P. are no longer in issue.

** The inception to date movement is based on the combined weighted average NAV of Marwyn Value Investors I, II and B shares prior to their amalgamation, using the conversion ratio published on 17 April 2008.

Number of Ordinary Shares to be redeemed pursuant to the partial cash redemption of Ordinary Shares

Further to the Company's announcement on 2 January 2014 that it will return capital equal to 8 pence per Ordinary Share in January 2014 by way of a partial cash redemption, the Company can now confirm that 3.0878 per cent. of the Company's issued Ordinary Shares will be redeemed on the redemption date (being 13 January 2014).  Fractions of Ordinary Shares will not be redeemed and so the number of Ordinary Shares to be redeemed for each shareholder will be rounded down to the nearest whole number of Ordinary Shares.  By way of illustration, a holder of 1,000 ordinary shares at the record date will have 30 of their ordinary shares redeemed.

Further details of the partial cash redemption of Ordinary Shares (including information regarding the record date for the partial cash redemption and the expected payment date) are set out in the Company's announcement released on 2 January 2014.

Enquiries:

Robert Ware, Chairman	Marwyn Value Investors Limited	T: 44 (0) 20 7258 8670
Sue Inglis	Cantor Fitzgerald Europe	T: [phone]

 

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