20th Dec 2024 19:16
Menhaden Resource Efficiency PLC - invests in businesses and opportunities, delivering or benefiting from the efficient use of energy and resources - Proposes managed realisation and return of capital. The decision follows the company's September announcement that it was reviewing its options. Menhaden expects to publish a circular in early 2025.
Chair Howard Pearce says: "With its portfolio of investments in both listed companies and unquoted co-investments, Menhaden Resource Efficiency has delivered good net asset value returns. The board recognises and appreciates the efforts of the Menhaden Capital Management team in delivering this performance."
"However, the conditions for UK investment companies have changed significantly over the past decade. Having considered a range of future options, proposals and shareholder feedback, the board now believes it is in all shareholders' best interests to propose an orderly realisation and return of capital. Given the nature of the portfolio, the board believes this can be achieved in a relatively short timeframe once the necessary shareholder approvals have been obtained."
Current stock price: 149.00 pence each, closed 19% higher on Friday in London
12-month change: up 48%
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.