Marwyn Value Investors has announce that, under the terms of its conditional placing (announced on 19 November), 22,727,273 ordinary shares in the have been conditionally placed at a price of 220p per share with institutional investors. Completion of the placing, which has conditionally raised £50m, remains subject to a number of conditions including approval at an EGM scheduled for 10 December 2015. Assuming the fund raising is approved, the new shares will represent 28.7% of the enlarged issued share capital of the Company (following the Placing). The company expects that a prospectus in relation to the transaction will be published on n23 November 2015.
Marwyn Value Investors raises £50m through conditional placing : MVI