Provision of Secured Credit Facility

RNS Number : 4187W

Marwyn Value Investors Limited

27 April 2016

 

27 April 2016

MARWYN VALUE INVESTORS LIMITED
(the 'Company')

Provision of Secured Credit Facility

The Company announces that the underlying fund in which it is invested, Marwyn Value Investors L.P. (the "Master Fund") has agreed to provide a circa £4.7 million secured credit facility (the "Facility") to Marwyn Management Partners plc ("MMP") and Marwyn Management Partners Subsidiary Limited ("MMPSL"). The Facility has a two year term, is repayable in full at maturity and will be secured by way of charges over the shares and bank accounts of certain MMP Group entities. Under the terms of the Facility, a commitment fee of 1.5% per annum is payable on undrawn amounts and interest of 8% per annum is payable on drawn amounts.

The Company understands that MMP will utilise the proceeds of the Facility to fund the consolidation of the manufacturing operations of its subsidiary, Le Chameau SAS ("Le Chameau"), thereby positioning Le Chameau to achieve sustainable long term growth.

The Master Fund holds 90.1% of the issued share capital of MMP and the Facility is deemed a related party transaction. 

Company enquiries:

Axio Capital Solutions Limited

Louisa Bonney / Anita Weaver

Telephone: [phone]

Liberum Capital Limited

Steve Pearce / Tom Fyson

Telephone: [phone]

PR enquiries:

Temple Bar Advisory Limited

Alex Child-Villiers / Ed Orlebar

Telephone: [phone]

 

END

 

 

MSCBUGDSXSDBGLL