Net Asset Value(s)

MENHADEN CAPITAL PLC

NET ASSET VALUE

The estimated un-audited net asset values for Menhaden Capital PLC, calculated in accordance with the guidelines of the Association of Investment Companies, at the close of business on 30 April 2017 were 87.75p (ex-income) and 87.69p (cum income).

For and on behalf of the Board
Frostrow Capital LLP
Secretary
9 May 2017

UK 100

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