Net Asset Value

RNS Number : 2023M

Marwyn Value Investors Limited

13 September 2019

 

LEI: 213800L5751QTTVEA774

13 September 2019

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

The board of directors of Marwyn Value Investors Limited (the "Company") today announces that the estimated net asset value per ordinary share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is £1.70234 as at 30 August 2019. As at 30 August 2019, there were 67,277,490* ordinary shares and 19,544,336 exchange shares in issue.

As at 30 August the closing mid share price of an ordinary share in the Company was £1.3050 and represented a discount of 23.34% to the net asset value per ordinary share.

Historic Performance

	Estimated NAV per share (£)	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	NAV Inception to date (%) **	Total Return Inception to date (%) ***
2019:
August 30	1.70234	-10.4	-9.8	-11.4	+119.2	+145.5
August 16	1.89925	+0.5	+0.7	-1.2	+144.6	+173.9
August 8	1.89035	+0.2	+0.2	-1.6	+143.4	+172.6
July 31	1.88695		-0.1	-1.8	+143.0	+172.2
June 30	1.88951		+8.2	-1.7	+143.3	+172.5
May 31	1.74580		-4.6	-9.2	+124.8	+151.8
April 30	1.82950		+2.1	-4.8	+135.6	+163.9
March 29	1.79185		-2.7	-6.8	+130.7	+158.4
February 28	1.84108		+0.7	-4.2	+137.1	+165.5
January 31	1.82829		-4.9	-4.9	+135.4	+163.7
2018:
December 31	1.92172		-5.6	-10.5	+147.4	+177.2
November 30	2.03572		+4.3	-5.2	+162.1	+193.6
October 31	1.95163		-0.6	-9.1	+151.3	+181.5
September 28	1.96373		-4.5	-8.6	+152.9	+183.2
August 31	2.05578		-0.2	-4.3	+164.7	+196.5
July 31	2.06075		+1.1	-4.1	+165.3	+197.2
June 30	2.03918		+2.6	-5.1	+162.6	+194.1
May 31	1.98737		+1.9	-7.5	+155.9	+183.8
April 30	1.95055		+5.6	-9.2	+151.2	+178.5
March 29	1.84651		-5.9	-14.0	+137.8	+163.7
February 28	1.96154		-4.9	-8.7	+152.6	+177.0
January 31	2.06300		-4.0	-4.0	+165.6	+191.3

Prepared on the following basis:

* As at 30 August 2019, 1,100,985 ordinary shares were held by Marwyn Value Investors L.P., acquired under the Company's share buyback scheme and for the purposes of the estimated net asset value per ordinary share, have been treated as cancelled.

** 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.

*** The total return inception to date movement is based on the reinvestment of dividends paid to shareholders into the Company and is calculated on a cum-income basis.

Marwyn Asset Management Limited, the Manager of the Company and of Marwyn Value Investors LP (the "Master Fund"), through which the Company holds all its investments, today announces that the value of the Master Fund's investment in Le Chameau Group plc attributable to the ordinary shares has been fully written down as at 30 August 2019 from a previous carrying value of £15.0m, representing a write down of £0.2272 per ordinary share.

On 3 September 2019, shareholder approval to cancel the 4,030,625 ordinary shares held by the Master Fund, acquired pursuant to a partial offer as announced on 15 January 2019, was received. Consequently, net asset value per ordinary share calculations for 3 September onwards will treat these shares as cancelled. For indicative purposes, were these shares to be treated as cancelled as at 30 August, the pro forma net asset value per ordinary share, including the write down of Le Chameau Group plc, would be £1.72811.

Enquiries to:

Axio Capital Solutions Limited

One Waverley Place

Union Street

St Helier

Jersey

JE1 1AX

 

END

 

 

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