Malin Corporation plc
Update on Return of Capital to Shareholders
Dublin-Ireland, 5 February 2025: Malin Corporation plc (Euronext Growth Dublin:MLC) ("Malin" or the "Company"), a company investing in highly innovative life sciences companies, announces that it intends to return up to €150 million of capital to shareholders by way of a tender offer (the "Tender Offer") at a price of €10.30 per share (the "Tender Price").
The Tender Price represents a premium of 17.1% to the closing price of €8.80 per Malin ordinary share on 4 February 2025 and represents a discount of 4.4% to the Estimated Intrinsic Equity Value per Ordinary Share of €10.77 on 4 February 2025.
It is currently anticipated that the Tender Offer will formally launch in late February 2025 and the Company will issue a shareholder circular containing the formal terms and conditions of the Tender Offer and instructions on how shareholders may tender their shares should they choose to do so. Subject to approval by the Company's shareholders at a shareholder meeting expected to be held in mid-March, the Tender Offer is expected to be completed before the end of March 2025.
Further announcements on the Tender Offer will be made by the Company as appropriate.
In addition, the Company intends to report its results and publish its annual report for the year ending 31 December 2024 at 07:00am GMT on Wednesday, 19 February 2025. The Company's 2024 Annual Report will be available at that time on the Company's website at www.malinplc.com.
ENDS
For further information please contact:
Malin
Fiona Dunlevy, Executive Director/Company Secretary
Tel: +353 (0)1 901 5700
[email protected]
Davy Corporate Finance (Financial Adviser, Euronext Growth Listing Sponsor & Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Sodali & Co (Media enquiries)
Eavan Gannon
Tel: +353 87 236 5973
[email protected]
This announcement contains Inside Information.
This announcement does not constitute, or form part of, an offer or any solicitation of an offer, to purchase or repurchase securities in any jurisdiction or constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter.
Forward-looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Group and certain plans and objectives of the Board, that are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "will", "may", "should", "would", "could" or other words of similar meaning. These statements are based on assumptions and assessments made by the Board in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes appropriate. By their nature, forward-looking statements involve risk and uncertainty, and the factors described in the context of such forward-looking statements in this document could cause actual results or developments to differ materially from those expressed in or implied by such forward-looking statements.
Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this document. Malin assumes no obligation to update or correct the information contained in this document, whether as a result of new information, future events or otherwise, except to the extent required by law or the Euronext Growth Rules.
The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and publication of this document shall not give rise to any implication that there has been no change in the facts set out in this document since such date. Nothing contained in this announcement shall be deemed to be a forecast, projection or estimate of the future financial performance of Malin except where expressly stated.