TIDM0Y71
RNS Number : 5932T
Malin Corporation PLC
21 March 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE IT
IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
21 March 2023
Malin Corporation plc
("Malin" or the "Company")
Full Take Up of Tender Offer
Malin today announces the results of the Tender Offer, as set
out in the circular published by the Company on 16 February 2023
(the "Circular"). The Tender Offer closed at 1.00 pm on 20 March
2023 (the "Closing Date").
The Tender Offer was oversubscribed and, accordingly, the
maximum number of Ordinary Shares authorised by shareholders under
the Tender Offer, being 15,053,763 Ordinary Shares, will be
acquired for a total cost of approximately EUR140 million. This
represents approximately 44.25% of the issued ordinary share
capital of the Company, as at the date of this announcement.
Qualifying Shareholders who tendered Ordinary Shares equal to or
less than their Individual Basic Entitlement will have their tender
accepted in full. Following application of the scale-back mechanism
as outlined in the Circular, Qualifying Shareholders who validly
tendered in excess of their Individual Basic Entitlement will have
their tender accepted in respect of their Individual Basic
Entitlement plus approximately 0.70% of the number of Ordinary
Shares in excess of their Individual Basic Entitlement that they
validly tendered.(1)
Under the terms of the Option Agreement, Davy may require the
Company to acquire the Ordinary Shares purchased by Davy pursuant
to the Tender Offer and it is expected that the acquisition by the
Company of such Ordinary Shares will be completed later today. A
further announcement will be made by the Company in that respect in
due course.
It is anticipated that for Qualifying Certificated Shareholders,
a cheque will be dispatched for the proceeds of any sale no later
than 3 April 2023. For Qualifying Euroclear Participants, it is
anticipated that, their cash accounts will be credited with the
relevant Tender Offer proceeds no later than 3 April 2023.
Capitalised words and expressions in this announcement shall,
unless the context provides otherwise, have the same meaning as in
the Circular.
(1) Note: Euroclear Nominees is the Shareholder through which
Euroclear Participants and CDI Holders hold interests in Ordinary
Shares. Accordingly, Qualifying Euroclear Participants and
Qualifying CDI Holders should note that Euroclear Bank will
calculate and apply its own proration with respect to the Ordinary
Shares successfully tendered by Euroclear Nominees on behalf of
Qualifying Euroclear Participants and Qualifying CDI Holders.
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in
highly innovative life sciences companies. Its purpose is to create
shareholder value through the application of long-term capital and
operational and strategic expertise to a diverse range of global
healthcare businesses. Malin has a focus on innovative businesses
underpinned by exceptional science and works with its investee
companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and
domiciled in Ireland and listed on the Euronext Growth Dublin. For
more information visit www.malinplc.com.
For further information contact:
Malin
Gary Curran, Asst. Company Secretary (cosec@malinplc.com)
Andrea Stafford, Head of Finance
(investorrelations@malinplc.com)
Tel: +353 (0)1 901 5700
Davy (Financial Adviser, Euronext Growth Listing Sponsor &
Joint Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 (0)1 679 6363
Liberum (Joint Broker)
Phil Walker / Ben Cryer
Tel: +44 (0) 20 3100 2000
Powerscourt (Media enquiries)
Eavan Gannon
Tel: +353 87 236 5973
malin@powerscourt-group.com
Important Notices
This announcement contains Inside Information.
This announcement does not constitute, or form part of, an offer
or any solicitation of an offer, to purchase or repurchase
securities in any jurisdiction or constitute a recommendation or
advice in respect of any securities or other financial instruments
or any other matter. Malin shareholders are advised to read
carefully the Circular. Any response to the Tender Offer should be
made only on the basis of the information in the Circular.
Davy, which is regulated in Ireland by the Central Bank, is
acting exclusively for Malin and no-one else in connection with the
matters described in this announcement. Davy will not regard any
other person (whether or not a recipient of this announcement) as
its customer or be responsible to any other person for providing
the protections to customers of Davy nor for providing advice in
relation to the transactions and arrangements described in this
announcement. Davy is not making any representation or warranty,
express or implied, as to the contents of this announcement. Davy
has not approved the contents of, or any part of, this announcement
and no liability whatsoever is accepted by Davy for the accuracy of
any information or opinions contained in this announcement or for
the omission of any information from this announcement.
Forward-looking Statements
This announcement contains certain forward-looking statements
with respect to the financial condition, results of operations and
business of the Group and certain plans and objectives of the
Board, that are subject to risk factors associated with, amongst
other things, the economic and business circumstances occurring
from time to time in the countries, sectors and business segments
in which the Group operates. These factors include, but are not
limited to, those discussed in Part 4 (Risk Factors Related to the
Tender Offer) of the Circular. These forward-looking statements can
be identified by the fact that they do not relate only to
historical or current facts. Forward looking statements often use
words such as "anticipate", "target", "expect", "estimate",
"intend", "plan", "goal", "believe", "will", "may", "should",
"would", "could" or other words of similar meaning. These
statements are based on assumptions and assessments made by the
Board in light of its experience and perception of historical
trends, current conditions, expected future developments and other
factors it believes appropriate. By their nature, forward-looking
statements involve risk and uncertainty, and the factors described
in the context of such forward-looking statements in this document
could cause actual results or developments to differ materially
from those expressed in or implied by such forward-looking
statements.
Should one or more of these risks or uncertainties materialise,
or should underlying assumptions prove incorrect, actual results
may vary materially from those described in this document. Malin
assumes no obligation to update or correct the information
contained in this document, whether as a result of new information,
future events or otherwise, except to the extent required by law or
the Euronext Growth Rules.
The statements contained in this announcement are made as at the
date of this announcement, unless some other time is specified in
relation to them, and publication of this document shall not give
rise to any implication that there has been no change in the facts
set out in this document since such date. Nothing contained in this
announcement shall be deemed to be a forecast, projection or
estimate of the future financial performance of Malin except where
expressly stated.
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END
RTEFZGZFGGMGFZZ
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March 21, 2023 03:00 ET (07:00 GMT)
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