20 October 2017
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 £2.40061 as at 6 October 2017. As at 6 October 2017 there were 8,520,206 Realisation Shares in issue.
As at 6 October the closing mid share price of a Realisation Share in the Company was £1.7000 and represented a discount of 29.18% 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 (%) * |
2017: |
|
|
|
|
|
|
|
|
|
|
|
October 6 |
2.40061 |
+0.3 |
+0.3 |
+13.0 |
+11.3 |
September 29 |
2.39380 |
|
+1.0 |
+12.7 |
+11.0 |
August 31 |
2.36926 |
|
+3.1 |
+11.5 |
+9.9 |
July 31 |
2.29884 |
|
-0.6 |
+8.2 |
+6.6 |
June 30 |
2.31222 |
|
-2.8 |
+8.8 |
+7.2 |
May 31 |
2.37761 |
|
+5.2 |
+11.9 |
+10.2 |
April 28 |
2.26040 |
|
+3.0 |
+6.4 |
+4.8 |
March 31 |
2.19391 |
|
+5.1 |
+3.3 |
+1.7 |
February 28 |
2.08682 |
|
-1.1 |
-1.8 |
-3.2 |
January 31 |
2.10976 |
|
-0.7 |
-0.7 |
-2.2 |
|
|
|
|
|
|
2016: |
|
|
|
|
|
|
|
|
|
|
|
December 30 |
2.12439 |
|
-1.5 |
-1.5 |
-1.5 |
November 30 |
2.15676 |
|
|
|
|
*Inception to date is calculated from the creation of the Realisation Shares on 30 November 2016
Realisation Share redemption
Further to the Company's announcement on 9 October 2017 that it will return 44.755 pence per Realisation Share by way of a partial cash redemption, the Company can now confirm that 18.643 per cent. of the Company's issued Realisation Shares will be redeemed on the redemption date (being 30 October 2017). 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 6 October 2017 ("NAV"), a holder at the record date of 1,000 Realisation Shares with an aggregate NAV of £2,400.61 will:
- be entitled to an aggregate return of £447.55 (before rounding down the number of Realisation Shares to be redeemed to the nearest whole share);
- have 186 of their Realisation Shares, with an aggregate NAV of £446.51, redeemed; and
- will continue to hold Realisation Shares with an aggregate NAV of £1,954.10.
The existing ISIN KYG5897M2086 of the Realisation Shares (the "Old ISIN") will expire on the redemption date (30 October 2017). The new ISIN KYG5897M1823 of the Company's Realisation Shares post the redemption (the "New ISIN") will be enabled from 8.00 a.m. on 31 October 2017. Up to the redemption date (but not including 31 October 2017), Realisation Shares will be traded under the Old ISIN. Purchases of Realisation Shares that are unsettled as at the close of business on the record date for the redemption (30 October 2017), including trades arranged after the record date but before 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 effected 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 17 November 2017.
The timetable for the redemption, which has been updated since the Expected Timetable was announced on 9 October 2017, is set out below.
Timetable:
Record date for redemption |
5.00 p.m. on 30 October 2017 |
Redemption date |
30 October 2017 |
Admission of Realisation Shares under new ISIN |
8.00 a.m. on 31 October 2017 |
Ex-date |
31 October 2017 |
Payment of the redemption proceeds |
17 November 2017 |
Enquiries to:
Axio Capital Solutions Limited
One Waverley Place
Union Street
St Helier
Jersey
JE1 1AX
