TIDM0Y71
RNS Number : 6863R
Malin Corporation PLC
09 March 2021
Malin Corporation plc
Migration of Participating Securities expected to take effect on
15 March 2021
Dublin-Ireland, 9 March 2021: Malin Corporation plc (Euronext
Growth Dublin:MLC) (the Company) provides the following update in
relation to the proposed migration of its Ordinary Shares, as part
of the scheduled migration of Irish corporate securities, from
CREST to Euroclear Bank (Migration) under the Migration of
Participating Securities Act 2019 (the 2019 Act).
Following the approval of all resolutions necessary to
facilitate participation of the Company's Ordinary Shares in
Migration at the extraordinary general meeting of the Company held
on 10 February 2021, the Company has consented to the Migration and
has made the requisite notifications to the Irish Companies
Registration Office and Euronext Dublin. Accordingly, the Company
confirms that all steps required to be taken by the Company
pursuant to the 2019 Act and the Migration Guide to give effect to
Migration have now been completed .
Timetable
Euronext Dublin has published a statement relating to its
obligations under the 2019 Act. This statement can be
found at the following link: https://www.euronext.com/en/media/4354/ .
This statement is to the effect that Migration under the 2019
Act is scheduled to proceed in accordance with the indicative
timetable which was previously communicated to the market, most
recently on 17 February 2021. In particular Euronext Dublin has
advised that the Live Date on which Migration is to take effect is
15 March 2021 and further that this date will be formally appointed
by Euronext Dublin as the Live Date for Migration on 12 March
2021.
Accordingly, no changes are anticipated in relation to the dates
falling after the date of this announcement as set out in the
timetable contained in the Company's EGM Circular in respect of
Migration.
Actions to be taken by Shareholders
For Shareholders who hold their shares in paper form (i.e.
outside of CREST and in "certificated" form) there will be no
change to what is owned and how it is held. Therefore, the impact
of Migration on such Shareholders is expected to be minimal and no
immediate action is required.
For Shareholders who hold their shares through CREST (in
uncertificated form), Migration will result in changes to what is
technically owned, how the interest is held, and how rights related
to the shares will be exercised. Details of those changes are set
out in the EGM Circular. In relation to the mechanism for holding
interests in particular:
-- Retail shareholders who hold their shares electronically in
CREST - through a broker, custodian or nominee - will continue to
hold their interest through that broker, custodian or nominee, as a
CREST Depository Interest or (assuming the broker, custodian or
nominee is or becomes a participant in the Euroclear System in the
way they are in CREST) as a Belgian Law Right in the Euroclear
System.
-- Institutional shareholders who hold their Shares
electronically in CREST directly in their own name (i.e. as a CREST
member), will continue to be able to hold their interests in shares
directly in their own name as a CREST Depository Interest or
(provided they become a participant in the Euroclear Bank system)
as a Belgian Law Right in the Euroclear Bank system. Where such
shareholders wish to hold in the Euroclear Bank system but are not
or do not become a Euroclear Bank Participant, they will need to
enter into an arrangement with a broker, custodian or nominee who
is a participant, so that they can hold the relevant interest for
them.
If they have not done so already, Company Shareholders holding
their shares in CREST are strongly encouraged to consult with their
stockbroker or other intermediary without delay. Migration will
result in a significant change in both the form and nature of
shareholding in the Company, and the substance of, and manner in
which, rights can be exercised. In particular, Migration will
result in important changes to the processes and timelines for
submitting proxy voting instructions for the Company's next annual
general meeting (AGM). Shareholders should familiarise themselves
with the new processes and timelines, and ensure all necessary
actions have been taken on their part and by their stockbroker or
other intermediary, to ensure they can continue to enjoy their
voting and proxy appointment rights in the context of the new
Euroclear System.
The Company does not intend to issue any further updates on
Migration as it affects the Company before Migration, save to the
extent that there is a material change to the information
previously provided.
Defined terms used in this announcement have the same meaning as
set out in the Company's Circular to Shareholders dated 15 January
2021.
Shareholders are also referred to the Migration Guide (Version 3
January 2021) for further details in relation to the operation of
Migration.
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in
highly innovative life sciences companies. Its purpose is to create
shareholder value through the application of long--term capital and
operational and strategic expertise to a diverse range of global
healthcare businesses. Malin has a focus on innovative businesses
underpinned by exceptional science and works with its investee
companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and
domiciled in Ireland and listed on the Euronext Growth Dublin. For
more information visit www.malinplc.com
For further information, please contact:
Malin
Fiona Dunlevy, Company Secretary
Tel: +353 (0)1 901 5700
cosec@malinplc.com
Davy Corporate Finance (Euronext Growth Adviser & Joint
Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Liberum (Joint Broker)
Bidhi Bhoma / Euan Brown
Tel: +44 (0) 20 3100 2000
Powerscourt (Irish media enquiries)
Eavan Gannon
Tel: +353 87 236 5973
malin@powerscourt-group.com
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END
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