19th Nov 2015 09:06
LONDON (Alliance News) - Marwyn Value Investors Ltd on Thursday said it is to raise at least GBP50.0 million by selling new shares in a move designed to broaden its investor base, enable the master fund into which it invests to diversify its portfolio, and commit money to follow-on fundraisings by companies in its portfolio.
Marwyn Value Investors said it will issue shares at 220 pence each in the fundraising. The stock was down 1.6% at 214.00p on Thursday morning.
Liberum Capital Ltd is the bookrunner for the placing, and Marywn Value Investors also named the investment bank as the successor to Cantor Fitzgerald as its corporate broker.
Meanwhile, Marwyn Value Investors said it wants to change its distribution policy so as to divide its single annual capital redemption into four quarterly dividend payments from January 2016.
The total annual amount will be a minimum of 8.255 pence per share paid quarterly, remaining progressive in nature, the company said.
Special distributions on top of those quarterly payments will be considered, it said.
Marwyn Value Investors said it plans to distribute 2 pence per share in a special payment in January.
By Samuel Agini; [email protected]; @samuelagini
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