Partial Cash Redemption of Ordinary Shares

RNS Number : 6910W

Marwyn Value Investors Limited

02 January 2014

This announcement is not for release, publication, or distribution, directly or indirectly, in whole or in part, to US persons or into or within the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa, or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

2 January 2014

MARWYN VALUE INVESTORS LIMITED

PARTIAL CASH REDEMPTION OF ORDINARY SHARES

Following the approval of the Proposals, as defined in the Circular to Shareholders dated 1 November 2013, Marwyn Value Investors Limited (the "Company") has introduced a new progressive distribution policy for holders of Ordinary Shares which will result in a minimum return of capital in January each year, commencing in January 2014. The return of capital will be maintained or grown on a pence per share basis.

The Company today announces that the return of capital in January 2014 in accordance with the above policy will be equal to 8 pence per Ordinary Share.

In order for the distribution to be treated as a return of capital under Cayman law, it will be effected by way of a redemption undertaken pro rata to holdings of Ordinary Shares on the register as at the close of business on the Ordinary Share redemption record date, being 10 January 2014. The number of Ordinary Shares to be redeemed will be calculated by reference to the net asset value per Ordinary Share as at 31 December 2013.

The actual number of Ordinary Shares that will be redeemed on a pro rata basis in order to give effect to the capital return is expected to be announced by the Company on or around 9 January 2014 following publication of the 31 December 2013 net asset value on the same date. Fractions of Ordinary Shareswill not be redeemed and so the number of Ordinary Shares to be redeemed in respect of each shareholder will be rounded down to the nearest whole number of Ordinary Shares.

As at today's date, the Company has 66,106,473 Ordinary Shares in issue. All of the Ordinary Shares redeemed on the redemption date will be cancelled. A further announcement will be released following the record date to confirm the new number of Ordinary Shares in issue.

The existing ISIN number KYG5897M1096 of the Ordinary Shares (the "Old ISIN") will expire on the redemption date (13 January 2014). The new ISIN number KYG5897M1583 of the Company's Ordinary Shares post the redemption (the "New ISIN") will be enabled from and including 13 January 2014. Up to the redemption date (but not including 13 January 2013), Ordinary Shares will be traded under the Old ISIN. The redemption will be effected pro rata to holdings of Ordinary Shares on the register at the close of business on the Ordinary Share redemption record date, being 10 January 2014. Purchases of Ordinary Shares that were unsettled as at the close of business on the Ordinary Share redemption record date, including trades arranged after the redemption record date but before 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 redemption proceeds.

The payment of the redemption monies to eligible holders of Ordinary Shares is expected to be effected through CREST (in the case of holders of depository interests relating to the Ordinary Shares) or by cheque (in the case of Ordinary Shares held in certificated form) by 31 January 2014.

Expected timetable

Ordinary Share NAV as at 31 December 2013 and the number of Ordinary Shares to be redeemed announced by the Company:	9 January 2014
Ordinary Shares redemption record date:	5.00 p.m. on 10 January 2014
Ex- date:	13 January 2014
Ordinary Share redemption date:	13 January 2014
Payment of the redemption proceeds:	31 January 2014