14th Jan 2019 18:00
LONDON (Alliance News) - Marwyn Value Investors Ltd said Monday it subscribed for GBP10 million of Zegona Communications PLC's GBP100.5 million placing.
Shares in Marwyn closed down 0.8% Monday at 122.01 pence each.
Marwyn Value said GBP7.3 million of its subscription is attributable to its ordinary shares and GBP1.1 million is attributable to realisation shares.
Marwyn Value now holds a 19% interest in Zegona, and is the company's largest shareholder.
Marwyn Value's total investment in Zegona now stands at GBP44.2 million. The investment in Zegona represents 24% and 34% of Marwyn Value's ordinary share net asset value and realisation share NAV, respectively.
Earlier, Zegona confirmed it raised GBP100.5 million in a share placing worth 76% of its share capital.
Zegona placed 95.7 million shares at 105p per share. Shares in Zegona closed down 8.1% Monday at 110.25p each.
The 105p price represents a 13% discount to the company's middle market price Monday.
Related Shares:
Marwyn Val.Zegona Com