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Marwyn Value Investors Ltd - investment company managed by Marwyn Asset Management Ltd - Says Marwyn Funds successfully tendered 98.2% of Zegona Communications PLC shareholding, generating GBP45.4 million attributable to the ordinary shares and GBP6.7 million attributable to the company's realisation shares. The company has already made returns to shareholders in excess of the 50% of net capital gains in accordance with ordinary share distribution policy and as such no cash return is due to shareholders from the Zegona tender offer, it notes.
Chair Robert Ware says: "The exit of the investment in Zegona further demonstrates the ability of the Manager's strategy to deliver shareholder value, with the proceeds received providing the capital to support the next phase of management-led acquisition companies as the Manager continues to progress a strong pipeline of management partners and target opportunities."
Current stock price: 125.00 pence
Year-to-date change: up 16%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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