Marwyn Acquisition Company III and Palmer Street End Combination Talks by Mutual Agreement

Marwyn Acquisition Company III Limited said talks with Palmer Street Limited about a potential combination have been terminated by mutual consent. The discussions, first disclosed on October 9, 2025, were ended because both sides judged a public listing to be premature. Palmer Street reports ongoing client mandate wins and revenue growth across Jersey, Luxembourg, Spain and the UK, and sees limited near-term need for external capital. Marwyn Investment Management LLP will continue to work with Palmer Street as the fund manager of Palmer's sole institutional investor. Palmer Street remains focused on pursuing acquisitions benefiting from accelerated digitalisation.

Key Points

Marwyn Acquisition Company III and Palmer Street have mutually agreed to end their talks about a potential combination; the discussions were first announced on October 9, 2025.
Palmer Street reports securing material new client mandates and delivering revenue growth across Jersey, Luxembourg, Spain and the UK, and currently sees limited near-term need for third-party capital.
Marwyn Investment Management LLP will remain involved as the fund manager of Palmer Street's sole institutional investor and continue to work with the Palmer team as the company pursues acquisition opportunities tied to digitalisation-driven structural change.

Marwyn Acquisition Company III Limited has confirmed that negotiations with Palmer Street Limited over a proposed business combination have been stopped by mutual agreement. The companies said the discussions, which were first announced on October 9, 2025, have been discontinued because both parties agreed that pursuing a public listing now would be premature.

Palmer Street continues to report progress in its commercial activity, securing material new client mandates and registering revenue growth across its operations in Jersey, Luxembourg, Spain and the UK. Management has signalled that the company intends to prioritise the exploitation of organic growth opportunities and does not anticipate a significant need for third-party capital in the near term.

Marwyn Investment Management LLP, acting as the fund manager for Palmer Street's sole institutional investor, will continue its relationship with the Palmer team on an ongoing basis, the companies said. That ongoing involvement will persist despite the discontinuation of the formal combination talks.

The statement reiterates Palmer Street's strategic focus on identifying and acquiring businesses that are positioned to benefit from structural change driven by the ongoing acceleration of digitalisation across various sectors. The company said this strategic objective remains central to its plans going forward.

The decision to halt the talks reflects the parties' shared assessment of timing for a public listing rather than a change in underlying commercial activity at Palmer Street. The company is continuing to expand its client base and revenue streams across the jurisdictions noted, while retaining the flexibility to revisit capital-raising or transactional options if circumstances change.

Context and outlook

Both firms framed the end of discussions as a mutual judgment on timing for a listing. Palmer Street's current priorities, as described in the announcement, are focused on organic growth and client mandate delivery across its markets. Marwyn Investment Management LLP's continued engagement as fund manager of the sole institutional investor indicates ongoing institutional support for Palmer Street's strategy.

Risks

Timing risk for a public listing - both parties judged a listing would be premature at this stage, creating uncertainty about if or when a listing might be pursued.
Dependency on organic growth - Palmer Street's emphasis on organic expansion and limited near-term external capital needs implies exposure to execution risk in its markets across Jersey, Luxembourg, Spain and the UK.

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