Marwyn Val. Regulatory News (MVI)

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, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

LEI: 213800L5751QTTVEA774

12 January 2023

Marwyn Value Investors Limited

Update on Settlement of VAT Reclaim

Further to the Company's previous announcements in relation to the historic VAT reclaims relating to Praesepe, the Company is pleased to announce that, following consultation with the professional advisers handling the claims, the remaining unsettled claims have progressed such that there is sufficient certainty on the recoverability of the amounts due to the Master Fund to recognise the estimated amounts as a receivable.

The total estimated amounts to be recognised by the Master Fund in relation to these remaining unsettled reclaims, after deductions for fees, taxes and other expenses, is £5.02 million, with the amounts attributable to each of the Company's share classes being:

* Estimated impact on NAV is the estimated post-carry impact on the latest net asset value as reported by the Company on 29 December 2022

These amounts will be reflected in the Company's estimated net asset value per share calculations as at 31 December 2022 which will be released via RNS on or before 16 January 2023.

For the avoidance of doubt, these amounts represent the estimated funds to be received from all of the remaining unsettled claims. These remain dependent on final settlement with HMRC and whilst the actual amount received may be different, any difference is not expected to be material. The timing of receipt of cash into the Master Fund also remains uncertain; based on the timeline for the settlement of previous claims, it is currently estimated that these amounts will be received in 2023.

Returns to the Company's shareholders

There is no net capital gain arising from the settlement of the VAT reclaims and accordingly, no cash return is due to ordinary shareholders on receipt of the funds into the Master Fund, which will be retained by the Master Fund. To date, the Company has distributed over £28.1 million to ordinary shareholders in excess of the amount that would be required under the distribution of 50% net capital gains as described in the Company's ordinary share distribution policy.

A further announcement will be made by the Company in relation to any distribution to the Company's 2016 realisation shareholders and/or 2021 realisation shareholders following receipt of the funds into the Master Fund.

Company enquiries:

Aztec Financial Services (Jersey) Limited

Chris Copperwaite / Magdala Mullegadoo

Telephone: 01534 833000

Investor Relations

Kam Bansil

Telephone: 020 7039 1901

Corporate Broker - Liberum Capital Limited

Chris Clarke / Owen Matthews

Telephone: 0203 100 2200

Marwyn Value Investors Limited is a closed-ended investment company on the London Stock Exchange Specialist Fund Segment - a fully regulated market for professional, institutional and sophisticated investors. Marwyn's previous 11 comparable listed acquisition companies which have completed a platform acquisition have delivered in excess of £4.3 billion in equity profits and an aggregate return on capital to shareholders of 123 per cent (as at 31 December 2022).

For further information see http://www.marwynvalue.com. 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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "expects", "believes", "estimates", "envisages", "plans", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include matters that are not facts. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of factors could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement based on past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Subject to any requirement under the Listing Rules, Prospectus Rules, the Disclosure Guidance and Transparency Rules or other applicable legislation or regulation, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.