Net Asset Value

RNS Number : 1029C

Marwyn Value Investors Limited

14 October 2020

 

LEI: 213800L5751QTTVEA774

14 October 2020

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 £1.66293 as at 30 September 2020. As at 30 September 2020 there were 4,187,226 realisation shares in issue.

As at 30 September 2020 the closing mid share price of a realisation share in the Company was £1.4000 and represented a discount of 15.81% to the net asset value per realisation share.

Historic Performance

	Estimated NAV per share (£)	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	Total shareholder return inception to date (%) *
2020:
September 30	1.66293	-0.1	-0.7	-4.4	-16.7
September 18	1.66405	+0.5	-0.6	-4.4	-16.6
September 11	1.65587	-1.1	-1.1	-4.8	-16.8
August 28	1.67491		-2.3	-3.7	-16.4
July 31	1.71404		+2.1	-1.5	-15.5
June 30	1.67843		+6.8	-3.5	-16.3
May 29	1.57184		+1.2	-9.7	-18.7
April 30	1.55246		+3.4	-10.8	-19.2
March 31	1.50194		-12.0	-13.7	-20.3
February 28	1.70604		-2.4	-2.0	-15.7
January 31	1.74783		+0.4	+0.4	-14.7
2019:
December 31	1.74002		+7.1	-12.9	-14.9
November 29	1.62433		+0.4	-18.7	-17.4
October 31	1.61749		-1.1	-19.0	-17.7
September 30	1.63576		-3.0	-18.1	-17.0
August 30	1.68588		-11.4	-15.6	-15.2
July 31	1.90305		-0.6	-4.7	-7.2
June 30	1.91533		+5.8	-4.1	-6.8
May 31	1.81043		-4.2	-9.4	-10.6
April 30	1.89061		+1.8	-5.3	-7.7
March 29	1.85765		-2.0	-7.0	-8.9
February 28	1.89479		-0.1	-5.1	-7.5
January 31	1.89754		-5.0	-5.0	-7.4

* Total shareholder return inception to date is calculated as the movement in total shareholder value, including all distributions made to realisation shareholders since the creation of the realisation shares on 30 November 2016.

Realisation Shares redemption

On 7 October 2020, the Company announced that the proceeds received from the liquidation of Safe Harbour Holdings plc attributable to holders of the Company's realisation shares (the "Realisation Shareholders"), along with cash attributable to Realisation Shareholders which is not required to be held for reasonable working capital purposes, will be distributed in accordance with the terms of the Company's realisation class.

T he Company can now confirm that £836,755 will be returned to Realisation Shareholders and 12.017 per cent. of the Company's issued realisation shares will be redeemed on the redemption date (being 22 October 2020) (the "Redemption Date").  As fractions of realisation shares will not be redeemed, the number of realisation shares held by each Realisation Shareholder to be redeemed 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 ("NAV") as at 30 September 2020, a holder at the record date of 1,000 realisation shares with an aggregate NAV of £1,662.93 would:

-  be entitled to an aggregate return of £199.83 (before rounding down the number of realisation shares to be redeemed to the nearest whole number of realisation shares);

-  have 120 of their realisation shares, with an aggregate NAV of £199.55, redeemed; and

-  continue to hold realisation shares with an aggregate NAV of £1,463.38.

The existing ISIN of the realisation shares (KYG5897M2169, the "Old ISIN") will expire following the close of business on the Redemption Date.  The new ISIN of the Company's realisation shares post the redemption (KYG5897M3076, the "New ISIN") will be enabled from 8.00 a.m. on 23 October 2020.  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 9 November 2020.

The timetable for the redemption is set out below.

Expected Timetable:

Record date for redemption	6.00 p.m. on 22 October 2020
Redemption date	22 October 2020
Admission of Realisation Shares under new ISIN	8.00 a.m. on 23 October 2020
Ex-date	23 October 2020
Payment of the redemption proceeds	9 November 2020

Enquiries to:

Axio Capital Solutions Limited

One Waverley Place

Union Street

St Helier

Jersey

JE1 1AX

 

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