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

MMPT.L on London Stock Exchange

3.12GBp
29 May 2015
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Latest Key Developments (Source: Significant Developments)

Marwyn Management Partners Plc proposed issue of equity
Friday, 13 Feb 2015 02:00am EST 

Marwyn Management Partners Plc:Has entered into conditional agreement with its largest shareholder, Marwyn Value Investors LP (MVI) to subscribe for up to 296,355,315 ordinary shares of 1pence each in share capital of company at price of 4.125 pence per ordinary share.Placing is conditional on shareholder approval at General Meeting of company to authorise the directors of company to allot new ordinary shares and to disapply pre-emption rights in relation to the issue of the new Ordinary Shares on a non-pre-emptive basis.Placing proceeds will be used to implement strategy set out in announcement dated Feb. 12.In event that resolutions are not passed at General Meeting of the Company, placing would not proceed.Gross Placing proceeds will be minimum of 10.0 mln Pound which will be used to fund the five year business plan of Le Chameau.Placing will be increased to maximum of 12.2 mln Pound to extent that company is successful in increasing its interest in Le Chameau through purchasing existing shares and loan notes in its subsidiaries.  Full Article

Marwyn Management Partners Plc announces issue of equity
Tuesday, 15 Jul 2014 02:00am EDT 

Marwyn Management Partners Plc:Announces placing of 10,144,000 ordinary shares of 1 pence at a price of 4.25 pence.To raise about 0.4 mln Pounds before expenses.Application has been made to the London Stock Exchange for the admission of the Placing Shares to trading on AIM.It is expected that admission will occur and that dealings will commence on July 18, at which time it is also expected that the placing shares will be enabled for settlement in CREST.Net proceeds of the Placing will be used by the Company for general working capital purposes.  Full Article

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

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