REG-Menhaden Resource Efficiency PLC: Liquidation Update

Menhaden Resource EfficiencyAnnouncement

08/08/2025 14:00

8 August 2025

 

Menhaden Resource Efficiency PLC (in Members Voluntary Liquidation)

(the "Company")

LEI: 2138004NTCUZTHFWXS17

 

Liquidation Update

 

 

Further to the liquidation of the Company on 25 March 2025 and the
announcements on 9 April 2025, 13 May 2025, 29 May 2025 and 15 July 2025, the
Joint Liquidators of the Company are providing a further update on the
liquidation of the Company, the sale of the unlisted investments and future
distributions.

 

Terms used in this announcement have the same meaning as those set out in the
circular to shareholders dated 28 February 2025 ("the Circular").

 

Further to the announcement on 15 July 2025, the Joint Liquidators wish to
advise shareholders that substantial progress has been made to finalise
agreements to realise the Company's remaining 2 unlisted investments.
Negotiations with the potential purchasers continue and it is expected that
the realisations of these investments will conclude shortly.

 

As announced on 15 July 2025, the Joint Liquidators do not propose to release
any further information at this stage in relation to these potential
realisations in order to protect the Company's position as negotiations
continue in respect of the Company's unlisted investments.

 

Shareholders may recall from the announcement on 29 May 2025 that the Joint
Liquidators were required to hold cash to meet unfunded contractual
commitments, the costs and expenses of the liquidation and certain other
provisions for tax. The Joint Liquidators have made significant progress
resolving these matters and are pleased to report that they are now in a
position to release the majority of these provisions.

 

As noted above, although the realisation of the final 2 unlisted investments
have not completed, the Joint Liquidators have determined that it is in the
interest of shareholders to make a third cash distribution and then make a
further distribution once the final 2 unlisted investments have been fully
realised.

 

The Joint Liquidators will therefore make a third cash distribution to
shareholders on 29 August 2025 of 36 pence per Ordinary Share. Following the
payment of this third cash distribution, the total aggregate cash returned to
shareholders during the liquidation for the period to 29 August 2025 will be
£1.38 per Ordinary Share.

 

As announced on 29 May 2025, the Joint Liquidators currently estimate that the
total return to shareholders in the liquidation should be at least £1.60 per
Ordinary Share, which includes the distributions made on 15 May 2025 and 4
June 2025 and the intended third cash distribution.

 

Shareholders should note that the Company's Registrar, MUFG Corporate Markets,
has advised that all cash distributions from the second cash distribution will
be paid by cheque only. Cheques will be issued to shareholders by First Class
post on 29 August 2025 in respect of the third cash distribution.

 

Should shareholders not receive their cheque within 7 business days of 29
August 2025, or require cheques to be reissued, shareholders are recommended
to call MUFG Corporate Markets on 0371 664 0321. Calls are charged at the
standard geographic rate and will vary by provider. Calls outside the United
Kingdom will be charged at the applicable international rate. The helpline is
open between 9 am - 5.30 pm, Monday to Friday excluding public holidays in
England and Wales. Please note that MUFG Corporate Markets cannot provide any
financial, legal or tax advice and calls may be recorded and monitored for
security and training purposes.

 

 

 

 

 

Joint Liquidators:

Derek Hyslop and

Richard Barker

Ernst & Young LLP

1 More London Place

London SE1 2AF

 

Enquiries: MHN@parthenon.ey.com



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