Marwyn Acquisition : Interim Report for the six months ended 31 December 2021

MARWYN ACQUISITION COMPANY PLC

Unaudited Interim

Condensed Consolidated Financial Statements for the

six months ended 31 December 2021

0

CONTENTS

Management Report 2

Responsibility Statement 3

Consolidated Statement of Comprehensive Income 4

Consolidated Statement of Financial Position 5

Consolidated Statement of Changes in Equity 6

Consolidated Statement of Cash Flows 7

Notes to the Consolidated Interim Financial Statements 8

Advisers 14

MANAGEMENT REPORT

I present to shareholders the unaudited interim condensed consolidated financial statements of Marwyn Acquisition Company plc (the "Company") for the six months ended 31 December 2021 (the "Consolidated

Interim Financial Statements"), consolidating the results of the Company and WHJ Limited, (collectively, the "Group" or "MAC").

Strategy

Marwyn Acquisition Company plc is listed on AIM on the London Stock Exchange and was established to provide shareholders with attractive total returns achieved through capital appreciation. The Directors believe that opportunities exist to create significant value for shareholders through properly executed, acquisition-led growth strategies, in the industrials, manufacturing, engineering, construction, building products or support services sectors. The investment policy is included in full on the Company's website atwww.marwynacplc.com.

Results

The Group's loss after taxation for the six months to 31 December 2021 was £183,000 (six months to 31

December 2020: loss of £515,000). The Group held a cash balance at the period end of £4,995,000 (as at 30 June 2021: £5,222,000).

Dividend Policy

The Company has not yet acquired a trading operation and it is therefore inappropriate to make a forecast of the likelihood of any future dividends. The Directors intend to determine the Company's dividend policy following completion of a platform acquisition and, in any event, will only commence the payment of dividends when it becomes commercially prudent to do so.

Corporate Governance

In line with the London Stock Exchange's AIM Rules for Companies requiring all AIM-quoted companies to adopt a recognised corporate governance code, explain how the company complies with that code's requirements and identify and explain areas of non-compliance, the Board has adopted the Quoted Companies Alliance Corporate Governance Code. There have been no significant changes to the Corporate Governance Report presented in the Group's Annual Report and Consolidated Financial Statements for the year ended 30

June 2021, which is available on the Company's website. Additional information in respect of the Company's compliance with the QCA Code can also be found on the Company's website.

The Company intends to re-evaluate its corporate governance code framework upon the earlier of the completion of a platform acquisition, or on appointment of an executive management team.

Risks

The Directors have carried out a robust assessment of the principal risks facing the Group including those that would threaten its business model, future performance, solvency or liquidity. There have been no significant changes to the principal risks described on in the Group's Annual Report and Consolidated Financial Statements for the year ended 30 June 2021. The Directors are of the opinion that the risks detailed therein are applicable to the six-month period to 31 December 2021, as well as the remaining six months of the current financial year.

Outlook

The Directors believe that the Company is well-positioned to capitalise on opportunities in the current market environment, particularly where the Company's structure and listed status is likely to prove attractive in

securing a leading executive management team to pursue buy and build strategies, a number of which have been identified and continue to be progressed.

RESPONSIBILITY STATEMENT

Each of the Directors confirms that, to the best of their knowledge:

(a) these Consolidated Interim Financial Statements, which have been prepared in accordance with IAS 34 "Interim Financial Reporting" as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit or loss of MAC; and

(b)these Consolidated Interim Financial Statements comply with the requirements of Rule 18 of the AIM Rules for Companies and Article 106 of the Companies (Jersey) Law 1991.

Neither the Company nor the Directors accept any liability to any person in relation to the interim financial report except to the extent that such liability could arise under applicable law.

Details on the Company's Board of Directors can be found on the Company website atwww.marwynacplc.com.

James Corsellis

Chairman

30 March 2022

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Six months	Six months
ended	ended
31 December	31 December
2021	2020
Note	Unaudited	Unaudited
£'000	£'000
Administrative expenses	6	(183)	(516)
Total operating loss	(183)	(516)
Finance income	-	1
Income tax	7	-	-
Loss for the period	(183)	(515)
Total other comprehensive income	-	-
Total comprehensive loss for the period	(183)	(515)
Loss per ordinary share
Basic and diluted (pence)	8	(0.027)	(0.077)

The Group's activities derive from continuing operations.

The Notes on pages 8 to 13 form an integral part of these Consolidated Interim Financial Statements.