Notification of transaction

Menhaden Capital PLC
(the "Company")

Notification and public disclosure of transaction

The Company has been notified that on 21 September 2017, Luciano Suana, Partner of Menhaden Capital Management LLP, the Company’s Portfolio Manager, purchased 150,976 ordinary shares of £0.01 each in the Company ("Ordinary Shares") at a price of 66.5 pence per share.

As a result of the transaction, Mr Suana holds a total of 570,826 Ordinary Shares, representing an aggregate 0.7% of the Company's issued share capital.

LEI: 2138004NTCUZTHFWXS17

For further information:

Katherine Manson
Frostrow Capital LLP
Company Secretary
0203 709 8734