Net Asset Value

RNS Number : 1773D

Marwyn Value Investors Limited

05 October 2018

 

LEI: 213800L5751QTTVEA774

5 October 2018

Marwyn Value Investors Limited

Net Asset Value per Realisation Share

The board of directors of Marwyn Value Investors Limited (the "Company") today announces that the estimated net asset value per Realisation Share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is £2.09881 as at 21 September 2018. As at 21 September 2018 there were 6,931,793 Realisation Shares in issue.

As at 21 September the closing mid share price of a Realisation Share in the Company was £1.7000 and represented a discount of 19.00% to the net asset value per Realisation Share.

Historic Performance

	Estimated NAV per share (£)	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	NAV Inception to date (%) *
2018:
September 21	2.09881	-1.1	-2.6	-5.7	-2.7
September 14	2.12221	+0.1	-1.5	-4.7	-1.6
September 7	2.12081	-1.6	-1.6	-4.8	-1.7
August 31	2.15506		-0.1	-3.2	-0.1
July 31	2.15817		+0.9	-3.1	+0.1
June 30	2.13849		+3.0	-4.0	-0.8
May 31	2.07554		+3.1	-6.8	-3.8
April 30	2.01226		+5.9	-9.6	-6.7
March 29	1.90028		-6.1	-14.7	-11.9
February 28	2.02289		-5.1	-9.2	-6.2
January 31	2.13123		-4.3	-4.3	-1.2
2017:
December 29	2.22672		-4.0	+4.8	+3.2
November 30	2.32040		+0.3	+9.2	+7.6
October 31	2.31431		-3.3	+8.9	+7.3
September 29	2.39380		+1.0	+12.7	+11.0
August 31	2.36926		+3.1	+11.5	+9.9
July 31	2.29884		-0.6	+8.2	+6.6
June 30	2.31222		-2.8	+8.8	+7.2
May 31	2.37761		+5.2	+11.9	+10.2
April 28	2.26040		+3.0	+6.4	+4.8
March 31	2.19391		+5.1	+3.3	+1.7
February 28	2.08682		-1.1	-1.8	-3.2
January 31	2.10976		-0.7	-0.7	-2.2

*Inception to date is calculated from the creation of the Realisation Shares on 30 November 2016

Realisation Shares redemption

Further to the Company's announcement on 25 September 2018 that it will return 6.391 pence per Realisation Share by way of a partial cash redemption, the Company can now confirm that 3.045 per cent. of the Company's issued Realisation Shares will be redeemed on the redemption date (being 15 October 2018) (the "Redemption Date").  Fractions of Realisation Shares will not be redeemed and so the number of Realisation Shares to be redeemed for each shareholder will be rounded down to the nearest whole number of Realisation Shares.

By way of illustration and based on the estimated net asset value per Realisation Share as at 21 September 2018 ("NAV"), a holder at the record date of 1,000 Realisation Shares with an aggregate NAV of £2,098.81 would:

-       be entitled to an aggregate return of £63.91 (before rounding down the number of Realisation Shares to be redeemed to the nearest whole number of Realisation Shares);

-       have 30 of their Realisation Shares, with an aggregate NAV of £62.96, redeemed; and

-       continue to hold Realisation Shares with an aggregate NAV of £2,035.85.

The existing ISIN KYG5897M1823 of the Realisation Shares (the "Old ISIN") will expire following the close of business on the Redemption Date.  The new ISIN KYG5897M1906 of the Company's Realisation Shares post the redemption (the "New ISIN") will be enabled from 8.00 a.m. on 16 October 2018.  Up to close of business on the Redemption Date, Realisation Shares will be traded under the Old ISIN.  Purchases of Realisation Shares that are unsettled as at the close of business on the Redemption Date will be transformed automatically by CREST and will settle under the New ISIN with an accompanying delivery of cash through CREST in respect of the pro rata redemption proceeds. The payment of the redemption monies to eligible holders of Realisation Shares is expected to be effected through CREST (in the case of holders of depository interests relating to the Realisation Shares) or by cheque (in the case of Realisation Shares held in certificated form) by 5 November 2018.

The timetable for the redemption is set out below.

Timetable:

Record date and time for redemption	5.00 p.m. on 15 October 2018
Redemption date	15 October 2018
Admission of Realisation Shares under new ISIN	8.00 a.m. on 16 October 2018
Ex-date	16 October 2018
Payment of the redemption proceeds	5 November 2018

Enquiries to:

Axio Capital Solutions Limited

One Waverley Place

Union Street

St Helier

Jersey

JE1 1AX

 

END

 

 

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