Notification of Transaction

Menhaden PLC

(the "Company")

Notification and public disclosure of transaction

The Company has been notified of an internal transfer of shares from the Company’s Portfolio Manager, Menhaden Capital Management LLP to the individual partners of Menhaden Capital Management LLP.  On 23 December 2020, Mr Graham Thomas, partner of Menhaden Capital Management LLP, acquired 15,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares") at a price of £1 per share.

As a result of the transfer, Mr Thomas now holds a total of 425,370 Ordinary Shares, representing an aggregate 0.53% of the Company's issued share capital.

For further information:
Frostrow Capital LLP
Company Secretary
020 3709 8734