Net Asset Value

RNS Number : 2158V

Marwyn Value Investors Limited

29 November 2019

 

LEI: 213800L5751QTTVEA774

29 November 2019

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 £1.61684 as at 15 November 2019. As at 15 November 2019 there were 6,720,731 realisation shares in issue.

As at 15 November the closing mid share price of a realisation share in the Company was £1.7000 and represented a premium of 5.14% to the net asset value per realisation share.

Historic Performance

	Estimated NAV per share (£)	Movement over Period (%)	Movement over Month (%)	Year to date Movement (%)	NAV Inception to date (%) *
2019:
November 15	1.61684	-0.0	-0.0	-19.0	-25.0
November 8	1.61762	+0.0	+0.0	-19.0	-25.0
October 31	1.61749		-1.1	-19.0	-25.0
September 30	1.63576		-3.0	-18.1	-24.2
August 30	1.68588		-11.4	-15.6	-21.8
July 31	1.90305		-0.6	-4.7	-11.8
June 30	1.91533		+5.8	-4.1	-11.2
May 31	1.81043		-4.2	-9.4	-16.1
April 30	1.89061		+1.8	-5.3	-12.3
March 29	1.85765		-2.0	-7.0	-13.9
February 28	1.89479		-0.1	-5.1	-12.1
January 31	1.89754		-5.0	-5.0	-12.0
2018:
December 31	1.99718		-7.1	-10.3	-7.4
November 30	2.14919		+4.5	-3.5	-0.4
October 31	2.05720		-0.9	-7.6	-4.6
September 28	2.07644		-3.6	-6.7	-3.7
August 31	2.15506		-0.1	-3.2	-0.1
July 31	2.15817		+0.9	-3.1	+0.1
June 30	2.13849		+3.0	-4.0	-0.8
May 31	2.07554		+3.1	-6.8	-3.8
April 30	2.01226		+5.9	-9.6	-6.7
March 29	1.90028		-6.1	-14.7	-11.9
February 28	2.02289		-5.1	-9.2	-6.2
January 31	2.13123		-4.3	-4.3	-1.2

* Inception to date is calculated from the creation of the realisation shares on 30 November 2016.

Realisation Shares redemption

Further to the Company's announcement on 22 November 2019 that the proceeds attributable to the holders of the Company's realisation shares (the "Realisation Shareholders") received from the disposal of the Company's interest in BCA Marketplace plc and the final liquidation proceeds from Gloo Networks Plc will be distributed to Realisation Shareholders in accordance with the terms of the Company's realisation class distribution policy, the Company can now confirm that £4,096,342 will be returned to Realisation Shareholders and 37.697 per cent. of the Company's issued Realisation Shares will be redeemed on the redemption date (being 5 December 2019) (the "Redemption Date").  Fractions of realisation shares will not be redeemed and so the number of realisation shares to be redeemed for each shareholder 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 as at 15 November 2019 ("NAV"), a holder at the record date of 1,000 realisation shares with an aggregate NAV of £1,616.84 would:

-          be entitled to an aggregate return of £609.50 (before rounding down the number of realisation shares to be redeemed to the nearest whole number of realisation shares);

-          have 376 of their realisation shares, with an aggregate NAV of £607.93, redeemed; and

-          continue to hold realisation shares with an aggregate NAV of £1,008.91.

The existing ISIN of the realisation shares (KYG5897M1906, 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 (KYG5897M2169, the "New ISIN") will be enabled from 8.00 a.m. on 6 December 2019.  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 affected 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 23 December 2019.

The timetable for the redemption is set out below.

Expected Timetable:

Record date for redemption	6.00 p.m. on 5 December 2019
Redemption date	5 December 2019
Admission of Realisation Shares under new ISIN	8.00 a.m. on 6 December 2019
Ex-date	6 December 2019
Payment of the redemption proceeds	23 December 2019

Enquiries to:

Axio Capital Solutions Limited

One Waverley Place

Union Street

St Helier

Jersey

JE1 1AX

 

END

 

 

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