MMP Marwyn Mgmt

TIDMMMP

RNS Number : 7976E

Marwyn Management Partners PLC

13 February 2015

Marwyn Management Partners plc

("MMP" or the "Company")

Proposed issue of equity

Further to the announcement yesterday, the Company announces that it has entered into a conditional agreement with its largest shareholder, Marwyn Value Investors LP ("MVI") to subscribe for up to 296,355,315 ordinary shares of 1p each in the share capital of the Company (the "Ordinary Shares") at a price of 4.125 pence per Ordinary Share (the "Placing"). The Placing is conditional on shareholder approval at a General Meeting of the Company to authorise the directors of the Company (the "Directors") to allot the new Ordinary Shares and to disapply pre-emption rights in relation to the issue of the new Ordinary Shares on a non-pre-emptive basis (the "Resolutions"). The Placing proceeds will be used to implement the strategy set out in the announcement dated 12 February 2015.

In the event that the Resolutions are not passed at the General Meeting of the Company, the Placing would not proceed.

The gross Placing proceeds will be a minimum of GBP10.0 million which will be used to fund the five year business plan of Le Chameau. The Placing will be increased to a maximum of GBP12.2 million to the extent that the Company is successful in increasing its interest in Le Chameau through purchasing existing shares and loan notes in its subsidiaries.

MVI's allocation of shares pursuant to the Placing will also be scaled back to the extent that existing institutional Shareholders wish to subscribe for new Ordinary Shares. The new Ordinary Shares are not being offered to members of the public.

MVI is a Substantial Shareholder under the AIM Rules, and accordingly the Placing is a Related Party Transaction pursuant to AIM Rule 13. James Corsellis and Mark Brangstrup Watts are directors of both MMP and MVI's manager, Marwyn Asset Management Limited, accordingly they are not considered independent for the purposes of the AIM Rules. The other, independent Directors, consider, having consulted with WH Ireland, its nominated adviser, that the terms of the Placing are fair and reasonable insofar as shareholders of the Company are concerned.

A circular setting out details of the Placing, and including a notice of a General Meeting to be held at 3 p.m. on 3 March 2015 at 20 Buckingham Street, London, WC2N 6EF will be sent to shareholders today.

ENQUIRIES:

Mark Kirkland (Marwyn Management Partners plc)

Telephone: 0207 004 2700

NOMAD

Paul Shackleton/ Adrian Hadden (WH Ireland Limited)

Telephone: 020 7220 1666

SALES - Eligible Investors

Harry Ansell (WH Ireland Limited)

Telephone: 020 7220 1666

This information is provided by RNS

The company news service from the London Stock Exchange

END

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