Menhaden Resource Efficiency Plc
(In Members' Voluntary Liquidation) (“the Company”)
Notice to Shareholders
Further to the approval of a special resolutions by a general meeting of the Company held on 25 March 2025, the Company was placed into Members’ Voluntary Liquidation, and Derek Hyslop and Richard Barker of Ernst & Young LLP were appointed as Joint Liquidators.
In accordance with the circular issued to shareholders on 28 February 2025 (“the Circular”), it was anticipated, and advised by the portfolio manager of the Company, Menhaden Capital Management (“MCM”), the realisation of the listed investments would be completed in time for a first distribution to shareholders of the Company during the week commencing 26 May 2025.
In light of recent market conditions, the Joint Liquidators have discussed the listed investment realisation strategy with MCM and, given uncertainty and volatility, MCM will complete the listed investment realisation within the next 4 to 6 weeks, with approximately 20% of the listed investments being realised each week.
To ensure the shareholders receive the return of their monies on a timely basis the Joint Liquidators propose to make distributions to shareholders over the period to 26 May 2025, when sufficient realisations have been made, assuming the realisation strategy remains as above. Once a distribution is being made, shareholders will be advised of the amount and rate being distributed together with an indication of the percentage of the public equities portfolio realised via an RNS announcement.
Should shareholders have any queries regarding their holding in the Company, or if they wish to notify the Registrar of a change of address or other personal details, they should write to MUFG corporate Markets, 51 Lime Street, London EC3M 7DQ or call 0371 664 0300 (from within the UK) or +44 371 664 0300 (from outside the UK).
Should shareholders have any other queries in relation to the liquidation of the Company, they should contact the Joint Liquidators at below email address:
MHN@parthenon.ey.com
D N Hyslop and R P Barker are licensed in the United Kingdom to act as Insolvency Practitioners by The Insolvency Practitioners Association. As Insolvency Practitioners, they are bound by the Insolvency Code of Ethics in carrying out all professional work relating to the appointment.
The Joint Liquidators may act as data controllers of personal data as defined by the UK General Data Protection Regulation (as incorporated in the Data Protection Act 2018), depending upon the specific processing activities undertaken. Ernst & Young LLP and/or the Company may act as a data processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators' appointment. The Office Holder Data Privacy Notice can be found at www.ey.com/uk/officeholderprivacy.