B.p Marsh Regulatory News (BPM)

16 January 2023

B.P. Marsh & Partners Plc

("B.P. Marsh", "the Company" or "the Group")

Interim Dividend Declaration

and

Share Buy-Back Programme

Interim Dividend

B.P. Marsh & Partners Plc (AIM: BPM), the specialist venture capital investor in early stage financial services businesses, is pleased to declare an Interim Dividend of 1.39p per share covering the period from 1st February 2022 to 31st January 2023.

The Board has agreed that this year the dividend will be paid in two instalments: an Interim Dividend of 1.39p per share (£0.5m) in February 2023 and the balance in July 2023 as a Final Dividend, subject to Shareholder Approval at the Company's next Annual General Meeting, expected to be held in July 2023 (the "2023 AGM"). The Interim Dividend of 1.39p per share will be payable on 28th February 2023 to all Shareholders on the Register on 27th January 2023.

It remains the Company's aspiration to pay a dividend of at least £1.0m in aggregate for its year ending 31st January 2023, subject always to the Board's right to recommend an increased or decreased Final Dividend, for example in the event of significant realisations or capital commitments of the Company.

The Board will annually revisit the frequency of dividend payments for subsequent years as it reviews the cash requirements of the Group.

Share Buy-Back Programme

The Board is aware of the significant discount at which the Company's shares trade relative to its net asset value ("NAV") per share and remains committed to its previously stated objective to reduce this discount and enhance long term shareholder value. The Board believes that share buybacks are one of a number of appropriate means of achieving these objectives.

Accordingly, the Board has today approved a strategy to repurchase ordinary shares of 10.0p each in the Company ("Ordinary Shares") for up to a maximum aggregate consideration of £1.0m and subject to Ordinary Shares being available to purchase at a price representing a discount of at least 20% to the most recently announced NAV per share of 499.0p (the "Programme").

The Programme will be carried out in accordance with the Company's general authority to purchase a maximum of 3,746,600 Ordinary Shares, conferred by shareholders at the Company's Annual General Meeting held on 25th July 2022 (the "General Authority") and at a price not exceeding the maximum approved pursuant to the General Authority.

The purpose of the Programme is to reduce the Company's share capital outside of Treasury and it will commence on the date of this announcement and continue until either the maximum pecuniary amount has been purchased under the Programme or, if earlier, the expiration of the General Authority (which is in place until the 2023 AGM). The Programme will be financed through existing cash resources.

Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019) (the "Regulation") and the delegated regulations made pursuant to it.

The purchased Ordinary Shares will be held by the Company in Treasury. Shares held in Treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

The Company confirms that it currently has no unpublished inside information.

The Company will announce any market purchase of Ordinary Shares pursuant to the authority without delay.

This announcement contains inside information.

For further information:

Notes to Editors:

B.P. Marsh's current portfolio contains fifteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.

Since formation over 30 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for approaching ten years.

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