Net Asset Value - 2021 Realisation Shares

RNS Number : 7088Y

Marwyn Value Investors Limited

17 January 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

17 January 2022

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 per 2021 realisation share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is 1.83725 as at 31 December 2021. As at 31 December 2021 there were 360,482 2021 realisation shares in issue.

As at 31 December 2021 the closing mid share price of a 2021 realisation share in the Company was 1.1000 and represented a discount of 40.13% to the net asset value per 2021 realisation share.

Historic Performance

	Estimated NAV per share (£)	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	Total shareholder return inception to date (%) *
2021:
December 31	1.83725	+4.6	+3.3	+3.3	+3.3
December 17	1.75657	-0.5	-1.2	-1.2	-1.2
December 10	1.76466	-0.7	-0.7	-0.7	-0.7
November 30	1.77782

Silvercloud (Le Chameau) revaluation

The Company holds all its investments through Marwyn Value Investors L.P. (the "Master Fund"). For the estimated NAV as at 31 December 2021, the Master Fund's investment in Silvercloud Holdings Limited (through which the investment in Le Chameau is held) attributable to the 2021 realisation shares has been revalued to 0.12m from a previous carrying value of 0.08m. This reflects the continued strong performance of Le Chameau through 2021, delivering double-digit % revenue growth, in both its retailer and direct e-commerce channels, along with an increase in gross margin and underlying profitability. The new value of the investment represents 18.54% of the NAV of the 2021 realisation shares as at 31 December 2021.

Potential settlement of VAT reclaim

The estimated net asset value per 2021 realisation share as at 31 December 2021 does not include any amounts relating to the settlement of VAT reclaims arising from a historic investment in Praesepe plc, which operates in the gaming industry (as announced by the Company on 7 September 2021) due to the significant uncertainty of the amount and timing of any such settlement.

*Inception to date is calculated from the creation of the 2021 realisation shares on 30 November 2021.

Enquiries to:

Aztec Financial Services (Jersey) Limited

Aztec Group House

11-15 Seaton Place

St Helier

Jersey

JE4 0QH

 

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