B.p Marsh Regulatory News (BPM)

14 November 2023

B.P. Marsh & Partners Plc

B.P. Marsh & Partners Plc ("B.P. Marsh" or the "Company")

Cancellation of Shares and New Share Buy-Back Programme

Cancellation of Shares

B.P. Marsh today announces that on 9 November 2023 it cancelled 178,000 ordinary shares of 10p each ("Ordinary Shares"). These shares were previously held in treasury, taking the total number of shares held by the Company in Treasury to 60,097 shares.

As a result of the cancellation, the total number of Ordinary Shares in issue is 37,288,000 and the total number of Voting Rights in B.P. Marsh is 37,227,903. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

New Share Buy-Back Programme

B.P. Marsh today announces that it will undertake a share buy-back programme of a maximum aggregate consideration of £500,000, and subject to the 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 567.3p (the "Share Buyback Programme").

The Company is of the view that the previous Buyback programme that it operated between 16 January 2023 and 29 September 2023 was a successful and value accretive initiative, and one which it would like to continue for the remainder of the year.

The Company has appointed its corporate broker, Panmure Gordon (UK) Limited ("Panmure Gordon") to manage the Share Buyback Programme to repurchase Ordinary Shares on its behalf from today's date until 21 December 2023.

The Company has entered into an irrevocable commitment with Panmure Gordon to continue the Share Buyback Programme through a non-discretionary programme, repurchasing the Company's Ordinary Shares on its behalf, and within certain defined parameters. Panmure Gordon will make trading decisions in relation to the buyback of Ordinary Shares independently of the Company within the programme terms.

Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other terms. The maximum price paid per Ordinary Share will be no more than the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out. Under the Share Buyback Programme, the repurchased shares will be held in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

The Share Buyback Programme will operate in accordance with the Company's general authority to purchase a maximum of 3,746,600 Ordinary Shares (the "Authority"), granted by its shareholders at the Annual General Meeting of the Company held on 26 July 2023 (since when the Company has repurchased 80.199 Ordinary Shares pursuant to the Authority). The purpose of the Share Buyback Programme is to reduce the Company's share capital. The Share Buyback Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the delegated regulations made pursuant to it. The Company confirms that it currently has no unpublished price sensitive information.

The Company will make further regulatory announcements in respect of repurchases of Ordinary Shares as required by UK MAR and the AIM Rules.

This announcement contains information which, prior to its disclosure, was inside information.

For further information:

Notes to Editors:

B.P. Marsh's current portfolio contains fourteen 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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