Results of Partial Offer

RNS Number : 3366Z

Marwyn Value Investors Limited

18 September 2009

 



NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER RESTRICTED JURISDICTION

18 September 2009

MARWYN VALUE INVESTORS LIMITED

Results of the Partial Offer

Marwyn Value Investors Limited ('MVI') today announces the results of the partial offer made by Marwyn Neptune Fund L.P. ('Marwyn') for up to 15,150,000 MVI shares (the 'Partial Offer'), as described in the circular to shareholders dated 11 September 2009 (the 'Circular').

Marwyn has notified MVI that it has received acceptances from shareholders for in excess of 15,150,000 Shares. As a result, the Partial Offer has been declared unconditional in accordance with its terms. 

The acceptances will be processed to determine which accepting shareholders shall be entitled to participate in the Partial Offer in accordance with the terms of the Partial Offer and the modified 'first come, first served' basis as described in the Circular. 

For those shareholders who successfully participated in the Partial Offer, in whole or in part, CREST accounts are expected to be credited with the Partial Offer proceeds, and in the case of certificated shareholders, cheques for the Partial Offer proceeds are expected to be dispatched, by 2 October 2009.

For those shareholders who were unsuccessful, in whole or in part, the relevant Shares deposited with the Escrow Agent, and in the case of certificated shareholders, the relevant share certificates or other documents of title received, are expected to be returned to shareholders by 2 October 2009.

MVI is aware that at the date of this announcement Marwyn does not hold any shares in MVI.  Following completion of the Partial Offer, Marwyn will hold 18.64 per cent. of the total issued share capital of MVI.

Terms used in this announcement shall have the meaning given to them in the Circular.

Enquiries:

Cenkos Securities plc:

Peter Hindmarsh           [phone]

 

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MSCILFESALITLIA