Portfolio Update

RNS Number : 4093T

Merian Chrysalis Investment Co. Ltd

20 July 2020

 

For immediate release

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than professional investors in the Republic of Ireland), Canada, Australia, Japan or the Republic of South Africa.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Merian Chrysalis Investment Company Limited

20 July 2020

Merian Chrysalis Investment Company Limited (the "Company")

Portfolio Update

As announced on 27 May 2020, the Company's net asset value ("NAV") per ordinary share was 108.65p as of 31 March 2020.

Today, the Company announces that it has entered into a transaction to partially realise one of its investments in the portfolio; this realisation is expected to raise approximately £20m.

This transaction has been undertaken at a valuation that represents a material mark up in the Company's current carrying value of the asset. It is anticipated that, based on the information held by the Company as at today's date, it will lead to a gross increase in the NAV per ordinary share of approximately 9p as compared to the Company's last reported NAV per ordinary share (calculated on the assumption that the achieved sale price is applied to revalue the Company's remaining holding of the asset).

The details of this transaction currently remain confidential; a further update will be made by the Company in due course.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

-ENDS-

For further information, please contact:

Merian Global Investors: Amelie Shepherd	[phone]
Liberum: Gillian Martin / Owen Matthews	[phone]
Maitland Administration (Guernsey) Limited: Elaine Smeja	[phone]

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at https://www.merian.com/chrysalis/. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

END

 

 

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