Cancellation of Shares & Buy-Back Programme Update

Cancellation of Shares

B.P. Marsh today announces that it has agreed to cancel 188,000 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 23,872 shares.

As a result of the cancellation, the total number of Ordinary Shares in issue is 37,100,000 and the total number of Voting Rights in B.P. Marsh is 37,076,128. 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.

Share Buy-Back Programme Update

As previously announced, the Company initiated a Share Buy-back programme (the "Programme") on 11 June 2024, permitting purchases up to a 15% discount to diluted Net Asset Value, (this threshold was subsequently upwardly revised to a 10% discount to diluted Net Asset Value with effect from 2 August 2024), with a £1m budget allocation.

Under the Programme to date 156,702 shares have been purchased, at an average price of £5.32, with £164,733 of the original £1m budget remaining. The Board considers that Programme has been successful, allowing the Company to purchase small yet consistent parcels of Shares where available in a NAV accretive way. Accordingly, in order to continue this endeavour, the Board has agreed to add a further £1m to the Programme, bringing the ongoing Share Buy-back budget allocation balance to £1.16m.

All other terms of the Programme remain unchanged.

The Company confirms that it currently has no unpublished price sensitive information.

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