Marwyn Value Investors has reached an agreement with Canada Pension Plan Investment Board for the disposal of all the remaining shares in Entertainment One held by Marwyn’s Master Fund which will, on completion of the disposal, generate gross proceeds of approximately GBP142.4 million.
Approximately GBP103.4 million of that total will be attributable to the Company.
The disposal is conditional upon the Canada Pension Plan Investment Board having received notice from the Australian Foreign Investment Review Board that there are no objections concerning its proposed acquisition of shares in Entertainment One. Such notification, and the completion, is expected within 30 days.
Approximately GBP10.0 million will, following completion, be returned to shareholders under the Company's distribution policy for net capital gains in addition to the GBP5.3 million still to be returned arising from the July 2015 initial disposal.
