Marwyn Value Investors Limited Net Asset Value - Ordinary Shares

RNS Number : 8666Y

Marwyn Value Investors Limited

02 August 2024

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

 

 

LEI: 213800L5751QTTVEA774

2 August 2024

 

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

 

The board of directors of Marwyn Value Investors Limited (the "Company") today announces that the estimated net asset value ("NAV") per ordinary share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is £1.92388 as at 31 July 2024. As at 31 July 2024, there were 55,490,360 ordinary shares and 30,970,984 exchange shares in issue.

 

As at 31 July 2024 the closing mid share price of an ordinary share in the Company was £0.96000 and represented a discount of 50.10% to the NAV per ordinary share.

 

Historic NAV Performance

 

	Estimated NAV per share (£)	Movement over Month (%)	Year to date Movement (%)	Total Return Year to date (%)2	NAV Inception to date (%)1	Total Return Inception to date (%)2
2024:
July 31	1.92388	+3.0	+9.2	+12.0	+147.7	+233.0
June 30	1.86774	-1.0	+6.0	+8.7	+140.5	+223.2
May 31	1.88731	+2.1	+7.1	+9.8	+143.0	+226.6
April 30	1.84939	+0.5	+5.0	+6.3	+138.1	+216.2
March 31	1.83928	+1.9	+4.4	+5.7	+136.8	+214.5
February 29	1.80566	+1.4	+2.5	+3.8	+132.5	+208.7
January 31	1.78088	+1.1	+1.1	+1.1	+129.3	+200.6
2023:
December 31	1.76146	+5.7	-0.4	+5.1	+126.8	+197.4
November 30	1.66601	-0.4	-5.8	-0.6	+114.5	+181.3
October 31	1.67333	-0.1	-5.4	-1.6	+115.5	+178.7
September 30	1.67527	-0.1	-5.2	-1.4	+115.7	+179.0
August 31	1.67756	+0.3	-5.1	-1.3	+116.0	+179.4
July 31	1.67284	-0.2	-5.4	-2.9	+115.4	+174.9
June 30	1.67546	-0.2	-5.2	-2.7	+115.7	+175.3
May 31	1.67815	-0.1	-5.1	-2.6	+116.1	+175.7
April 30	1.67949	-0.4	-5.0	-3.8	+116.3	+172.3
March 31	1.68615	-4.1	-4.6	-3.4	+117.1	+173.4
February 28	1.75866	-0.7	-0.5	+0.7	+126.4	+185.1
January 31	1.77070	+0.1	+0.1	+0.1	+128.0	+183.5

 

NAV Allocation

 

Based upon the Company's indirect investments, the estimated allocation of the ordinary share NAV is:

 

Ordinary Shares	Total Value (£m)3	NAV/pence per Ordinary Share	% of NAV
Investment Portfolio
Quoted investments
AdvancedAdvT	23.1	41.7	21.7%
MAC Alpha	1.0	1.8	0.9%
Marwyn Acquisition Company II	21.5	38.8	20.2%
Marwyn Acquisition Company III	5.9	10.6	5.5%
Zegona Communications	16.4	29.6	15.4%
450	5.1	9.2	4.8%
Unquoted investments
Le Chameau4	28.4	51.2	26.5%
Palmer Street	6.4	11.5	6.0%
Total Value	107.8	194.4	101.0%
Cash5	9.2	16.5	8.6%
Other assets / liabilities	(10.2)	(18.5)	(9.6)%
Net Asset Value	106.8	192.4	100.0%

 

Notes

¹The inception to date movement is based on the combined weighted average NAV of Marwyn Value Investors I, II and B shares prior to their amalgamation, using the conversion ratio published on 17 April 2008.

²The total return inception to date movement is based on the reinvestment of dividends paid to shareholders into the Company and is calculated on a cum-income basis.

³Portfolio investments are held at fair value in accordance with International Financial Reporting Standards ("IFRS"). Quoted investments with sufficient volume and frequency of trading to constitute an 'active market' under IFRS are held at their listed price on the valuation date. Unquoted investments, and quoted investments where there is no active market, are valued in accordance with International Private Equity and Venture Capital guidelines on a quarterly basis or whenever there is a material change in the investment which would indicate a significant change in valuation.

⁴The investment in Le Chameau is held through Silvercloud Holdings Limited ("Silvercloud"), with the value allocated to Le Chameau being the value attributable to each share class of Marwyn Value Investors L.P.'s holding in Silvercloud.

⁵Includes cash to be received from the repurchase of securities in Marwyn Acquisition III Limited, as announced by the Company on 12 July 2024.

 

 

Shares in the Company are not designed or intended for retail investors. Marwyn Investment Management LLP, the Manager, does not promote shares in the Company to retail investors and they should not be offered to retail investors.

 

Enquiries to:

[e-mail]

Aztec Financial Services (Jersey) Limited

Aztec Group House

PO Box 730

IFC6, The Esplanade

St Helier

Jersey JE4 0QH

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