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Marwyn to return £5m with bookbuild

Marwyn to return £5m with bookbuild – Marwyn Asset Management Limited, manager of Marwyn Value Investors, is making a partial offer to buy ordinary shares for cash by way of a reverse bookbuild process.

Qualifying shareholders (those not located in places such as the US – see list below) should contact Liberum to make their offers in the reverse bookbuild prior to 11 a.m. on 15 January 2019. At the end of the auction offer period, Marwyn will select the lowest clearing price submitted that will allow it to buy enough ordinary shares that fulfill the £5m target. All shares accepted in the partial offer will be purchased at the same price. If the number of shares tendered is greater than the number sought by Marwyn, purchases will be made on a pro rata basis. Shareholders may offer to sell some or all of their shares or choose not to tender to sell any.

Background

As at 28 December 2018, the estimated NAV was 192.212p. The share price has traded at a discount to the NAV for some time, and this discount has recently widened to c.40%. The board says that the main aim is to close the discount to NAV.

Overseas shareholders

The offer is not being made, and will not be made, directly or indirectly, in or into, the Australia, Canada, Japan, the Republic of South Africa, any member state of the EEA (other than the United Kingdom). This announcement is not for distribution or release, directly or indirectly, in or into the United States or to any US Person.

MVI : Marwyn to return £5m with bookbuild

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