Malin Corporation PLC Closure of Litigation (6996C)
13 Ottobre 2022 - 8:00AM
UK Regulatory
TIDM0Y71
RNS Number : 6996C
Malin Corporation PLC
13 October 2022
Malin Corporation plc
Closure of Litigation
Dublin-Ireland, 13 October 2022: Malin Corporation plc (Euronext
Growth Dublin:MLC) ("Malin", the "Company"), a company investing in
highly innovative life sciences companies, gives this update in
relation to outstanding litigation.
The Company announced on 13 October 2021 that Irish High Court
proceedings had been initiated by the holders of 2,803,801 A
Ordinary Shares in the Company ("the Founders") against the Company
claiming an entitlement to the conversion of their A Ordinary
Shares into Ordinary Shares.
As previously announced, the Company rejected the conversion
notices previously submitted to the Company by the Founders, on the
basis that no change of control had occurred and the conversion
rights carried by A Ordinary Shares were not exercisable.
On 17 August 2022 the Company confirmed that one of the
Founders, Crow Rock Capital Limited, the holder of 787,032 A
Ordinary Shares, had withdrawn its claim against Malin in those
proceedings and surrendered its A Ordinary Shares to the
Company.
The Company now confirms that the Company and the remaining
Founders have compromised the proceedings, which will be struck out
with no order as to costs. The remaining Founders will surrender
all of their A Ordinary Shares to the Company, for nil
consideration.
On 20 June 2022, the Company announced that defamation
proceedings were issued on behalf of Kelly Martin and Sean Murphy
against the Company, the Company's Chair, Liam Daniel and the
Company's CEO, Darragh Lyons. The Company now confirms that Kelly
Martin and Sean Murphy have agreed to discontinue those
proceedings.
In consideration of the above agreements, which are in the
interests of the Company's shareholders, the Company has agreed to
make a EUR1m contribution towards the remaining Founders'
costs.
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 contact:
Malin
Fiona Dunlevy, Company Secretary
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Davy Corporate Finance (Euronext Growth Listing Sponsor &
Joint Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Liberum (Joint Broker)
Phil Walker / Ben Cryer
Tel: +44 (0) 20 3100 2000
Powerscourt (Media enquiries)
Eavan Gannon
Tel: +353 87 236 5973
malin@powerscourt-group.com
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END
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October 13, 2022 02:00 ET (06:00 GMT)
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