Malin Corporation Plc

Legal Proceedings Report • Oct 13, 2021

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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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