Marwyn Value Investors Limited Transaction in Own Shares (0917Z)

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RNS Number : 0917Z

Marwyn Value Investors Limited

16 September 2020

LEI: 213800L5751QTTVEA774

16 September 2020

MARWYN VALUE INVESTORS LIMITED (THE "COMPANY")

PURCHASE OF ORDINARY SHARES

PURCHASE OF ORDINARY SHARES

The Company announces that Liberum Capital Limited as broker, on behalf of Marwyn Value Investors L.P. (the " Master Fund " ), has purchased 118,530 of the Company's ordinary shares ( " Ordinary Shares " ) (the " Purchased Shares " ).

 
 Date of transaction:              15 September 2020 
 Average price paid per Ordinary   109.8144 pence 
  Share: 
 Lowest price paid per Ordinary    109.7500 pence 
  Share: 
 Highest price paid per Ordinary   110.0000 pence 
  Share: 
 

The total number of the Company's Ordinary Shares owned by, or on behalf of, the Master Fund in respect of the Company's buyback programme is 1,836,153. The Company has been informed that the Master Fund intends to utilise the Exchange Procedure (as defined and described in the Company's prospectus dated 19 October 2016) in respect of the Purchased Shares such that the Purchased Shares will, in due course, be cancelled.

Until the Exchange Procedure is utilised in respect of any Ordinary Shares, the total number of voting rights in the Company remains as 63,668,685 comprising 59,481,459 Ordinary Shares and 4,187,226 Realisation Shares, each carrying one vote per share. These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For the purposes of the weekly estimated net asset value per Ordinary Share reporting, the Company will treat the Purchased Shares as already cancelled.

SHARE ACQUISITION BY MARWYN LONG TERM INCENTIVE LP

The Company today announces that it was notified that on 15 September 2020, Marwyn Long Term Incentive LP ("MLTI") purchased 75,464 Ordinary Shares in the Company, at an average price of 109.8144 pence per share.

MLTI, Mark Brangstrup Watts, James Corsellis and Antoinette Vanderpuije, now together hold 9,733,624 Ordinary Shares, representing approximately 16.36% of the Company's issued Ordinary Shares.

MLTI is a Person Closely Associated with Mark Brangstrup Watts, James Corsellis and Antoinette Vanderpuije, all directors of Marwyn Asset Management Limited ("MAML"), the manager of the Company and Marwyn Value Investors LP. Whilst none of Mark Brangstrup Watts, James Corsellis and Antoinette Vanderpuije are PDMRs, they are voluntarily disclosing today's information to the market on an aggregate basis as if they were.

As announced on 27 May 2020 (Completion of Amended Accelerated Bookbuild), following completion of those transactions, MLTI is required to use the remaining proceeds from the Net Cash Amount (as defined in the announcement) of approximately GBP1.6 million to purchase Ordinary Shares alongside MVI LP as part of the Company's buyback programme. Following this transaction, MLTI has GBP472,735 remaining before commission and stamp duty to purchase Ordinary Shares.

Company enquiries:

Louisa Bonney / Scott Danks

Axio Capital Solutions Limited

Telephone: [phone]

Gillian Martin

Liberum Capital Limited

Telephone: [phone]

PR enquiries:

Alex Child-Villiers / Will Barker

Temple Bar Advisory

Telephone: [phone]

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September 16, 2020 02:00 ET (06:00 GMT)