Director/PDMR Shareholding

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Menhaden Capital Management LLP
2	Reason for the notification
a)	Position/status	Investment Manager
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Menhaden Capital PLC
b)	LEI	2138004NTCUZTHFWXS17
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary 1p shares GB00BZ0XWD04
b)	Nature of the transaction	Acquisition of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 69.0 pence per share 100,000
d)	Aggregated information - Aggregated volume - Price	100,000 ordinary 1p shares 69.0 pence per share
e)	Date of the transaction	14 May 2018
f)	Place of the transaction	London Stock Exchange (XLON)

Name of authorised official of issuer responsible for making notification:

Kerstin Rucht, for and on behalf of Frostrow Capital LLP

Company Secretary to MENHADEN CAPITAL PLC