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LONDON - Menhaden Resource Efficiency PLC, currently in a Members Voluntary Liquidation, has announced an upcoming cash distribution to shareholders following significant progress in liquidating its assets. The company, which entered liquidation on March 26, 2025, will make its first distribution of 51 pence per share on May 15, 2025, totaling approximately £40 million.
The Joint Liquidators, Derek Hyslop and Richard Barker of Ernst & Young LLP, have successfully realized a large portion of the company’s listed investments as of today. They are also actively managing the company’s liabilities and the costs associated with the liquidation process, as well as the remaining listed and unquoted investments, in line with the strategies outlined in the shareholder circular dated February 28, 2025.
Efforts are currently focused on concluding and submitting tax returns for the period before the liquidation and making arrangements for the sale of the company’s unquoted investments. Shareholders can expect an announcement regarding a second cash distribution within the next two weeks.
This financial update follows a correction issued earlier today, clarifying a date error in a previous announcement. The corrected date now reads "As at 13 May 2025" instead of "As at 9 March 2025," with all other details of the liquidation update unchanged.
Today’s statement is based on a press release by Menhaden Resource Efficiency PLC and provides shareholders with the latest developments in the liquidation process. The company’s orderly wind-down continues to progress under the guidance of the appointed Joint Liquidators.
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