Malin Corporation PLC Update on Outstanding Litigation (2379W)

TIDM0Y71

RNS Number : 2379W

Malin Corporation PLC

17 August 2022

Malin Corporation plc

Update on outstanding litigation

Dublin-Ireland, 17 August 2022: Malin Corporation plc. (Euronext Growth Dublin:MLC) ("Malin" or "the Company"), a company investing in highly innovative life sciences companies, gives this update in relation to outstanding litigation. The Company announced on 13 October 2021 that Irish High Court proceedings had been initiated by the holders of 2,803,801 A Ordinary Shares in the Company ("the Founders") against the Company claiming an entitlement to the conversion of their A Ordinary Shares into Ordinary Shares.

The Company now confirms that one of the Founders, Crow Rock Capital Limited, the holder of 787,032 A Ordinary Shares, has withdrawn its claim against Malin in those proceedings and surrendered its A Ordinary Shares to the Company.

As previously announced, the Company rejected the conversion notices previously submitted to the Company by the Founders, on the basis that no change of control has occurred and the conversion rights carried by A Ordinary Shares are not currently exercisable.

The Board will take all necessary steps to vigorously defend the Company and shareholders against the remaining Founders' claims in the proceedings.

ENDS

About Malin Corporation plc

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support to enable them to reach their value potential. Malin is headquartered and domiciled in Ireland and listed on the Euronext Growth Dublin. For more information visit www.malinplc.com

For further information please contact:

Malin

Fiona Dunlevy, Company Secretary

Tel: [phone]

[e-mail]

Davy Corporate Finance (Euronext Growth Listing Sponsor & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: [phone]

Liberum (Joint Broker)

Phil Walker / Ben Cryer

Tel: [phone]

Powerscourt (Media enquiries)

Eavan Gannon

Tel: [phone]

[e-mail]

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August 17, 2022 02:00 ET (06:00 GMT)