MERI.L Regulatory News (MERI)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO SELL OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (THE "EEA") OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

7 October 2020

Merian Chrysalis Investment Company Limited (the "Company")

Result of Capital Raise

Further to the announcement made by the Company on 28 September 2020, the Company today announces that it has successfully raised gross proceeds of £95 million pursuant to the Placing and the PrimaryBid Offer (together the "Issue").

The Board is pleased with the strong response to the Issue, with demand exceeding the initial target raise, which will enable the Company's Investment Adviser to use equity funding in executing the investment in You & Mr Jones LLC as announced on 1 October 2020, together with other pipeline and follow-on investments.

Accordingly, under the Issue an aggregate of 64,189,189 new Ordinary Shares have been issued and allotted conditionally upon admission at a price of 148 pence per Ordinary Share.

Applications have been made for the admission of 64,189,189 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 9 October 2020.

Following Admission, the Company will have 400,931,613 Ordinary Shares in issue. Therefore, the total number of voting rights of the Company will be 400,931,613 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.

Richard Watts, portfolio manager, commented:

"We are extremely grateful to our investors who have continued to support our efforts to build Merian Chrysalis into a significant crossover investor. The proceeds of this raise will primarily be used to fund our recently announced investment in You & Mr Jones, which we believe is a very exciting addition to the portfolio which diversifies our sector exposure."

Nick Williamson, portfolio manager, added:

"Our medium-term ambition for Merian Chrysalis is to build a company of substantial scale that will use realisations to become self-funding. While we expect NAV growth to be a significant contributor to this scaling process, this raise marks another step in this direction. We are confident that the net proceeds, post the You & Mr Jones investment, can be deployed in a timely manner into strong investment ideas."

For further information, please contact:

LEI: 213800F9SQ753JQHSW24

Important Notice

This announcement has been issued by and is the sole responsibility of the Company. Liberum Capital Limited ("Liberum") and Numis Securities Limited ("Numis" and together with Liberum, the "Joint Bookrunners"), 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, Numis 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.

The Joint Bookrunners have not authorised the contents of, or any part of, this Announcement and no liability whatsoever is accepted by the Joint Bookrunners for the accuracy of any information or opinions contained in this Announcement or for the omission of any information. No representation or warranty, express or implied, is made by the Joint Bookrunners as to the accuracy, completeness or verification of the information set out in this Announcement, and nothing contained in this Announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or the future. The Joint Bookrunners do not assume any responsibility for its accuracy, completeness or verification and accordingly disclaims, to the fullest extent permitted by applicable law, any and all liability whether arising in tort, contract or otherwise which it might otherwise be found to have in respect of this Announcement or any such statement.

This Announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any Ordinary Shares (i) in any jurisdiction in which such offer, invitation or solicitation is not authorised; (ii) in any jurisdiction in which the person making such offer, invitation or solicitation is not qualified to do so; or (iii) to any person to whom it is unlawful to make such offer, invitation or solicitation. The distribution of this Announcement and the offer of the Ordinary Shares may be restricted by law. Persons into whose possession this Announcement comes must therefore inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. In particular, this Announcement may not be distributed, forwarded to or transmitted in, into or from the United States, Australia, Canada, Japan, South Africa, or any member state of the EEA or to any US person (as defined under Regulation S of the US Securities Act of 1933, as amended (the "US Securities Act")) ("US Person"). The Ordinary Shares have not been, and will not be, registered under the US Securities Act, or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, 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, except pursuant to an applicable exemption from the registration requirements of the US Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. Any person within the United States and any US person who obtains a copy of this Announcement must disregard it. No public offering of the Ordinary Shares is being made in any jurisdiction. No action has been or will be taken by the Company or the Joint Bookrunners that would permit the offer of the Ordinary Shares or possession or distribution of this Announcement in any jurisdiction where action for that purpose is required.