Malin Corporation PLC Update on Litigation by Founder Shareholders (9834O)
14 October 2021 - 12:10AM
UK Regulatory
TIDM0Y71
RNS Number : 9834O
Malin Corporation PLC
13 October 2021
Malin Corporation plc
Malin provides update on Litigation by Founder Shareholders
Dublin-Ireland, 13 October 2021 : Malin Corporation plc
(Euronext Growth Dublin:MLC) ("Malin", the "Company") announces,
further to the announcement on 8 October 2021, that Irish High
Court proceedings have been initiated by the holders of 2,803,801 A
Ordinary Shares in the Company ("the Founders") against the
Company.
The Founders claim an entitlement to the conversion of their A
Ordinary Shares into Ordinary Shares and have reserved their right
to apply to Court in the course of the legal proceedings for an
Order restraining the Company from implementing any capital returns
to ordinary shareholders of Malin pending the conversion. As
announced on 8 October 2021, the Company rejected the conversion
notices previously submitted to the Company by the Founders, on the
basis that no change of control has occurred and the conversion
rights carried by A Ordinary Shares are not currently
exercisable.
The Board will take all necessary steps to vigorously defend the
Company and shareholders against the Founders' proceedings.
The Company remains intent on initiating a significant return of
capital to its shareholders by means of a tender offer before the
end of 2021.
Further announcements will be made in due course as and when
appropriate.
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) invests in and supports
highly innovative life sciences companies developing exceptional
science and technology to deliver transformative outcomes for
patients and create significant value for shareholders.
Our purpose is to create shareholder value through the
application of long-term capital and strategic support to its
investee companies 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 contact:
Malin
Jessica Bergin, Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@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 (Media enquiries)
Rory Godson / Eavan Gannon
Tel: +44 7909 926020 / +353 87 236 5973
malin@powerscourt-group.com
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END
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