Key Developments: Marwyn Management Partners PLC (MMPT.L)

MMPT.L on London Stock Exchange

4.50GBp
9 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Marwyn Management Partners Plc announces placing of shares
Friday, 13 Jun 2014 02:00am EDT 

Marwyn Management Partners Plc:Announces that the Board has reached agreement with Marwyn Value Investors LP (MVI LP) to swap the total outstanding debt provided by MVI LP.Says amounting to about 12.0 mln pounds, for ordinary shares in the company, at a price of 4.25 pence per ordinary share (the Debt for Equity Swap').Board is also announcing today proposed placing of at least 5 mln pounds of ordinary shares also at 4.25 pence per ordinary share to provide additional working capital to the group.MVI LP has undertaken to subscribe for 117,647,059 ordinary shares under the placing.In order to facilitate the Debt for Equity Swap, the Placing and its future development, the Company is proposing to cancel the listing of the Ordinary Shares on the standard segment of the Of*cial List.Says to remove such Ordinary Shares from trading on the Main Market, and to apply for admission of the Ordinary Shares to trading on AIM.As part of this process, the Warrants, which have now lapsed, will also be de-listed from the Official List and will not be re-listed on AIM.Transaction is subject to the approval of the Independent Shareholders at a general meeting convened for July 7.  Full Article

Marwyn Management Partners Plc completes disposal of Metropolitan European Transport
Tuesday, 10 Jun 2014 02:01am EDT 

Marwyn Management Partners Plc:Says further to the statement regarding the disposal of Metropolitan European Transport Limited issued on May 23, 2014, the company says that the transaction has now completed.  Full Article

Marwyn Management Partners Plc announces disposal of Metropolitan European Transport plc
Friday, 23 May 2014 03:00am EDT 

Marwyn Management Partners Plc:Entered into transaction agreement with DGIW Omnibus Co Ltd and senior management team of Metropolitan European Transport plc (MET).Agreement in relation to sale of MET.Didposal for nominal initial consideration and an earn-out of up to Euro 3.25 mln based on receipt of additional investment into and any proceeds from material disposals by MET group in 24 month period from completion.  Full Article

Marwyn Management Partners PLC announces intention to move to AiM and MVI agreement to underwrite placing and provide short term funding facility
Wednesday, 4 Dec 2013 02:00am EST 

Marwyn Management Partners PLC:Says it intends to make an application to move the listing of the company's shares to AiM.Says the Director's believe that AiM is a more suitable market given the size of the company.Says it is MMP's intention that admission of the company's shares to AiM would take place during the first quarter of 2014.Says as part of the AiM admission, the company would also intend to undertake a placing of new ordinary shares (the Proposed Placing) to shareholders.Says in advance of the Proposed Placing, in order to fund short term working capital requirements, the company's main shareholder, Marwyn Value Investors LP (MVI), has provided the company with a 6.5 million pounds unsecured loan (the Unsecured Loan).Says interest on the Unsecured Loan will accrue at 6 pct per annum.Says the Unsecured Loan is repayable on Aug. 1, 2014.Says MVI has also agreed to underwrite the Proposed Placing to a minimum of 12 million pounds, by contributing the amounts outstanding under the Unsecured Loan and Secured Loan into the Proposed Placing.Says MVI's underwriting is subject to certain conditions, including the Proposed Placing taking place at no more than 10 pence per share.Says the Proposed Placing will be subject to normal shareholder approvals, including a whitewash if required.  Full Article

Marwyn Management Partners PLC Enters New GBP5 Million Secured Credit Facility; Completes Placing of Equity And Loan Notes
Wednesday, 10 Apr 2013 02:00am EDT 

Marwyn Management Partners PLC announces that the group has entered into a new GBP5 million has secured credit facility with Marwyn Value Investors LP (MVI). The Facility will be used for general corporate purposes and to continue the development of the group. Interest is payable on the Facility at 8% per annum. The Facility has a two year term and is repayable in full at final maturity. MVI holds 22.1% of the outstanding share capital of MMP. The Company also announced that it has completed a placing of new ordinary shares and loan notes in Silvercloud Management Holdings plc and Silvercloud Investment Limited, its previously wholly owned subsidiaries, for a total consideration of EUR3.0 million. The Placing was completed at a pre-money valuation consistent with the price of Silvercloud's acquisition of Le Chameau SAS in October 2012. The net proceeds of the Placing will be used to fund the development of the Le Chameau business and to continue the development of the MMP group.  Full Article

Marwyn Management Partners PLC Completes Acquisition Of Le Chameau SAS
Wednesday, 31 Oct 2012 03:00am EDT 

Marwyn Management Partners PLC announced that it has completed the acquisition of Le Chameau SAS (Le Chameau) from the Lafuma S.A. group for a total consideration of EUR16.5 million on a cash free, debt free basis. The consideration has been paid in cash at closing. The acquisition has been funded from the existing cash resources of the MMP group. Founded in 1927, Le Chameau is a French-based producer of high-end rubber boots, footwear and apparel.  Full Article

Marwyn Management Partners PLC Enters Into Exclusive Discussions with Lafuma SA to Acquire Le Chameau SAS
Tuesday, 2 Oct 2012 02:00am EDT 

Marwyn Management Partners PLC (MMP) announced that it has entered into exclusive discussions with Lafuma SA, the Paris-listed group, regarding the acquisition by MMP of Le Chameau SAS (Le Chameau). Le Chameau is a French-based producer of high-end rubber boots, footwear and apparel. The entering into of a binding sale and purchase agreement relating to the acquisition remains subject to the satisfactory conclusion of consultation between Lafuma SA and its employees, as is standard under French regulations. The acquisition would be funded by the existing cash resources of MMP. MMP anticipates that a sale and purchase agreement may be concluded within four to six weeks. MMP will update the market as appropriate in due course.  Full Article

Marwyn Management Partners PLC Announces Sale Of Marwyn Gaming Limited
Monday, 1 Oct 2012 02:00am EDT 

Marwyn Management Partners PLC announced the sale of wholly owned indirect subsidiary Marwyn Gaming Limited (MGL) to Merkur Casino UK Ltd, a wholly owned subsidiary of Casino Merkur Spielothek GmbH . The gross consideration for the sale is GBP76.0 million on a cash free, debt free basis, payable in cash. The sale includes all the gaming divisions within the MMP group, being Praesepe Plc, Restcare Limited, Baleday Limited and Beacon Bingo Limited. MMP intends to use the proceeds from the sale in line with their stated strategy to invest in the European transport and luxury goods sectors which MMP believes will offer attractive returns in the future.  Full Article

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