Unbound Group Plc Investment Proposal

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 OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

LEI: 213800L5751QTTVEA774

12 April 2023

Marwyn Value Investors Limited (the "Company")

Unbound Group Plc Investment Proposal

The Company notes that earlier today, Unbound Group plc ("Unbound") announced that it had received a proposal from Marwyn Investment Management LLP ("Marwyn") as Manager of Marwyn Value Investors II L.P. ("MVI II"), one of the Company's underlying funds, relating to an investment in Unbound.

The Company confirms that Marwyn is in discussions with Unbound relating to a subscription of £10 million at 10.5 pence per Unbound share.  Marwyn's proposal is not conditional on any other third party subscription but Marwyn has requested that all existing Unbound shareholders have the opportunity to invest at the same price per share.

As the proposal would involve MVI II acquiring more than 30% of the issued share capital of Unbound, the transaction, if implemented, would be conditional amongst other things, on receipt of a waiver from the Takeover Panel waiving the obligation of MVI II to make an offer for all of the outstanding shares in Unbound, the appointment of two Marwyn directors, and ultimately Unbound shareholder approval. 

James Corsellis, Chief Investment Officer of Marwyn commented:

"We are grateful to the Board and Management team for their time and support in helping us arrive at this proposal which we believe provides Unbound shareholders with an attractive proposition. We have been enormously impressed by the team, the quality of and future prospects for Hotter and would welcome the opportunity to work alongside them over the coming years to create long term value for all Unbound shareholders."

General:

This announcement contains inside information for the purposes of Article 7 of the UK version of EU Regulation 596/2014 which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"), and is disclosed in accordance with the Company's obligations under MAR. The person responsible for making this announcement is Robert Ware, Chairman, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. 

In accordance with Rule 26.1 of the Takeover Code, a copy of this announcement will be available on the Company's website http://www.marwynvalue.com by no later than 12 noon (London time) on the business day following the date of this announcement.  The content of the website referred to in this announcement is not incorporated into, and does not form part of, this announcement.

Company enquiries:

Aztec Financial Services (Jersey) Limited

Chris Copperwaite / Magdala Mullegadoo

Telephone: 01534 833000

Investor Relations

Kam Bansil

Telephone: 020 7039 1901

Corporate Broker - Liberum Capital Limited

Chris Clarke / Owen Matthews

Telephone: 0203 100 2200

Financial Advisor -Investec Bank Plc

Christopher Baird

Telephone: 020 7597 5970

FGS Global - PR Adviser
Rollo Head 07768 994 987

Marwyn Value Investors Limited is a closed-ended investment company on the London Stock Exchange Specialist Fund Segment - a fully regulated market for professional, institutional and sophisticated investors.

For further information see http://www.marwynvalue.com. 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.