Marwyn Value Investors Limited Investment in Marwyn Acquisition Company I Limited (6395S)
March 18 2021 - 3:10AM
UK Regulatory
TIDMMVI
RNS Number : 6395S
Marwyn Value Investors Limited
18 March 2021
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
Marwyn Value Investors Limited ("MVIL" or the "Company")
Investment in Marwyn Acquisition Company I Limited
The board of directors of MVIL is pleased to note that its
investee company, Marwyn Acquisition Company I Limited ("MAC I"),
to be renamed AdvancedAdvT Limited (expected to be effective on 23
March 2021), has today announced a fundraising to raise a total of
GBP130 million in order to pursue its stated investment strategy of
seeking mid-cap acquisition opportunities in the software
sector.
MAC I was listed on the Main Market of the London Stock Exchange
in December 2020, appointing Vin Murria OBE as Chairman on 31
December 2020. Marwyn previously partnered with Vin when she
founded Advanced Computer Software Group plc and grew it from an
initial GBP12 million platform acquisition in 2008 to being sold
for an enterprise value of GBP750 million to Vista Equity Partners
in 2015.
Following completion of the fundraising, MAC I's Board will
consist of Vin Murria as Chairman and Karen Chandler and James
Corsellis as non-executive directors. Gavin Hugill will join the
Board as Chief Operating Officer on 12 April 2021. Further
information on the new directors is included in the MAC I
prospectus which is expected to be made available today on MAC I's
website at www.marwynac1.com/investors/shareholder-documents .
Funds managed by Marwyn Asset Management Limited (the "Manager")
have committed to invest GBP17.5 million in the MAC I fundraising,
of which GBP13.4 million is attributable to the Ordinary shares of
MVIL*. Following completion of the fundraising, the Ordinary shares
of MVIL will have an interest in approximately 11.8% of MAC I's
issued ordinary shares. Vin Murria has also committed to invest
GBP17.5 million in the fundraising.
* GBP13.4 million represents 15.1% of the Ordinary share net
asset value, measured at 26 February 2021, being the latest
available NAV published by the Company.
James Corsellis, a director of the Manager, commented: "Marwyn's
focus has always been to invest with exceptional business leaders
such as Vin Murria. As our second such investment with Vin, and
alongside a large number of high quality institutional
co-investors, we are excited for the next step in our
partnership."
Company enquiries:
Scott Danks / Louisa Bonney
Telephone: 07700 720303
Corporate Broker:
Gillian Martin / Richard Bootle / Owen Matthews
Liberum Capital Limited
Telephone: 020 3100 2200
PR enquiries:
Alex Child-Villiers / Will Barker
Temple Bar Advisory Limited
Telephone: 07795 425580 / 07827 960151
Notes to editors:
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. Marwyn's previous 11 comparable listed
acquisition companies that have acquired platform businesses have
gone on to make 83 subsequent transactions, delivering GBP4.8
billion in equity profits and an aggregate return to shareholders
of 136 per cent. on invested capital as at 28 February 2021.
For further information see www.marwynvalue.com . Neither the
content of the Company's website, nor the content of MAC I's
website, nor the content on any website accessible from hyperlinks
on either of such websites 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.
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END
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