Marwyn Value Investors : Transaction in Own Shares

LEI:213800L5751QTTVEA774

20 January 2020

MARWYN VALUE INVESTORS LIMITED (THE 'COMPANY')

PURCHASE OF ORDINARY SHARES

The Company announces that Liberum Capital Limited as broker, on behalf of Marwyn Value Investors L.P. (the 'Master Fund'), has purchased 6,795 of the Company's ordinary shares ('Ordinary Shares') (the 'Purchased Shares').

Date of transaction:	14 January 2020
Average price paid per Ordinary Share:	103.4000 pence
Lowest price paid per Ordinary Share:	103.4000 pence
Highest price paid per Ordinary Share:	103.4000 pence

The total number of the Company's Ordinary Shares owned by, or on behalf of, the Master Fund in respect of the Company's buyback programme is 980,161. The Company has been informed that the Master Fund intends to utilise the Exchange Procedure (as defined and described in the Company's prospectus dated 19 October 2016) in respect of the Purchased Shares such that the Purchased Shares will, in due course, be cancelled.

Until the Exchange Procedure is utilised in respect of any Ordinary Shares, the total number of voting rights in the Company remains as 65,090,913 comprising 60,903,687 Ordinary Shares and 4,187,226 Realisation Shares, each carrying one vote per share. These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For the purposes of the weekly estimated net asset value per Ordinary Share reporting, the Company will treat the Purchased Shares as already cancelled.

Company enquiries:

Louisa Bonney / Scott Danks

Axio Capital Solutions Limited

Telephone: [phone]

Gillian Martin

Liberum Capital Limited

Telephone: [phone]

PR enquiries:

Alex Child-Villiers / Will Barker

Temple Bar Advisory

Telephone: [phone]