D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
LONDON - Menhaden Resource Efficiency PLC (in Members Voluntary Liquidation) announced Tuesday that it has fully realized its holdings in TCI Real Estate Partners Fund III Limited and TCI Real Estate Partners Fund IV Limited, generating approximately £9.5 million in net sale proceeds.
The company, which entered liquidation on March 25, 2025, is still negotiating with potential buyers for its remaining two unlisted investments. These sales, if agreed upon, are expected to complete by the end of July 2025, according to a press release statement from the joint liquidators.
Derek Hyslop and Richard Barker of Ernst & Young LLP, who serve as joint liquidators, have postponed the announcement of a third distribution to shareholders. They plan to provide an update on the timing and amount of this distribution by August 8, 2025.
The liquidators have maintained their previous estimate that the total return to shareholders throughout the liquidation process should be at least £1.60 per Ordinary Share. This figure includes the two distributions already made on May 15 and June 4, 2025, which totaled £1.02 per Ordinary Share.
The joint liquidators stated they would not release further information about the ongoing negotiations for the remaining unlisted investments to protect the company’s position during these discussions.
This update follows previous announcements made on April 9, May 13, and May 29, 2025, regarding the company’s liquidation progress.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.