Net Asset Value - 2021 Realisation Shares

RNS Number : 7258M

Marwyn Value Investors Limited

16 January 2023

 

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

16 January 2023

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 1.85270 as at 31 December 2022. As at 31 December 2022 there were 360,482 2021 realisation shares in issue.

As at 31 December 2022 the closing mid share price of a 2021 realisation share in the Company was 1.00000 and represented a discount of 46.02% 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 (%) *
2022:
December 31	1.85270	+3.1	+3.2	+0.8	+4.2
December 16	1.79658	+0.1	+0.1	-2.2	+1.1
December 9	1.79426	-0.1	-0.1	-2.3	+0.9
November 30	1.79539		+3.3	-2.3	+1.0
October 31	1.73790		-0.2	-5.4	-2.2
September 30	1.74102		-0.6	-5.2	-2.1
August 31	1.75224		-0.6	-4.6	-1.4
July 29	1.76298		+0.5	-4.0	-0.8
June 30	1.75342		-1.5	-4.6	-1.4
May 31	1.78088		+0.4	-3.1	+0.2
April 29	1.77374		-2.2	-3.5	-0.2
March 31	1.81283		-0.2	-1.3	+2.0
February 28	1.81679		-0.2	-1.1	+2.2
January 31	1.82104		-0.9	-0.9	+2.4
2021:
December 31	1.83725		+3.3	+3.3	+3.3

VAT reclaims

As announced by the Company on 12 January 2023, following consultation with the professional advisers handling the claims, the remaining unsettled amounts relating to the Praesepe VAT reclaims have progressed such that there is sufficient certainty on the recoverability of the amounts due to the Master Fund to recognise the estimated amounts as a receivable. Accordingly, an amount attributable to the ordinary shares of £0.028 million has been recognised in the estimated net asset value as at 31 December 2022.

For the avoidance of doubt, these amounts represent the estimated funds to be received from all of the remaining unsettled claims. These remain dependent on final settlement with HMRC and whilst the actual amount received may be different, any difference is not expected to be material. The timing of receipt of cash into the Master Fund also remains uncertain; based on the timeline for the settlement of previous claims, it is currently estimated that these amounts will be received in 2023.

Including this amount, a total of £0.056 million has been recognised in the estimated net asset value per ordinary share relating to the Praesepe VAT reclaims in which the Master Fund has an interest.

*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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