MERI.L Regulatory News (MERI)

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM AND THE REPUBLIC OF IRELAND), CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

24 September 2019

Merian Chrysalis Investment Company Limited (the "Company")

Result of Placing under Placing Programme

Further to the announcement made by the Company on 20 September 2019, the Company today announces that it has successfully raised gross proceeds of £175 million pursuant to the Placing. The Board is pleased with the strong response to the Placing which will enable the Company's Investment Adviser to execute on its pipeline of compelling investment opportunities. Approximately 50 per cent. of the proceeds will be used to scale up the Company's exposure to a number of existing portfolio holdings through the acquisition of additional interests in those investments from the Investment Adviser's open-ended UK small- and mid-cap equity funds (the "Transaction").

Accordingly, an aggregate of 145,833,333 new Ordinary Shares have been issued and allotted conditionally upon admission at a price of 120 pence per Ordinary Share (the "Placing Price").

Applications have been made for the admission of 145,833,333 new Ordinary Shares to listing on the premium listing segment of the Official List and to trading on the Main Market of London Stock Exchange Group plc ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 26 September 2019.

Following Admission, the Company will have 336,742,424 Ordinary Shares in issue. Therefore, the total number of voting rights of the Company will be 336,742,424 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company.

Details of the Transaction will be announced in due course.

Richard Watts, portfolio manager, comments:

"We're thrilled by the enthusiasm among investors for access to Merian Chrysalis and are delighted by the response to this placing. We have an exciting pipeline of high-growth, unquoted businesses and are confident that we will quickly deploy the new capital. Further, by acquiring additional shares in existing holdings, investors are set to benefit from a well-balanced portfolio, as well as the continuation of a sufficient level of full investment."

Andrew Haining, chairperson, adds:

"Merian Chrysalis has continued to gain momentum since launch and the result of the latest fundraise demonstrates the sustained strong demand for the underlying portfolio and asset class. The investment advisory team is currently exploring a number of investment opportunities and is continuing to build a highly attractive portfolio for shareholders."

For further information, please contact:

A copy of the Prospectus is available for inspection at: www.morningstar.co.uk/uk/nsm. A copy of the Prospectus and the key information document in respect of the Ordinary Shares are available on the Company's website at www.merian.com/chrysalis.

A copy of this announcement will be available on the Company's website at www.merian.com/chrysalis. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

Terms used but not defined in this announcement shall have the meanings given to such terms in the Prospectus.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

LEI: 213800F9SQ753JQHSW24

Important Notice

This announcement has been issued by and is the sole responsibility of the Company. Liberum Capital Limited ("Liberum") and Zeus Capital Limited ("Zeus Capital"), each of which are authorised and regulated by the Financial Conduct Authority in the United Kingdom, are acting only for the Company in connection with the matters described in this announcement and are not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of each of them or advice to any other person in relation to the matters contained herein. Neither Liberum, Zeus Capital nor any of its or their respective affiliates, directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for this announcement, its contents or otherwise in connection with it or any other information relating to the Company, whether written, oral or in a visual or electronic format.

This announcement may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and will not be offered, sold, exercised, resold, transferred or delivered, directly or indirectly, in or into the United States or to, or for the account or benefit of, any US person (as defined under Regulation S under the US Securities Act). The Company has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended.

Neither this announcement nor any copy of it may be: (i) taken or transmitted into or distributed in any member state of the European Economic Area (other than the United Kingdom and the Republic of Ireland), Canada, Australia or the Republic of South Africa or to any resident thereof, or (ii) taken or transmitted into or distributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this document comes should inform themselves about, and observe any such restrictions.