12 November 2020

Manolete Partners Plc

("Manolete" or the "Company")

Further Significant Case Completion

Manolete Partners Plc (AIM: MANO), the leading listed insolvency litigation financing firm in the UK, announces the successful completion of another of the larger cases in its portfolio of UK insolvency claims (the "Claim").

Further to the interim results announcement of 10th November, Manolete has now completed on a further important case today realising £2.8m net cash proceeds, in line with book value and at a money multiple of 23 times the total investment costs of £120k.

The Claim has been settled for £7.5m with the defendants due to pay as follows:

£2.5m by 20 November 2020

£2.5m by 31 December 2021

£2.5m by 31 December 2022

This is a Funded Claim. Manolete will receive its full costs back as a first priority share (c. £120k) and then:

50% of the next £1m of proceeds received;

45% of the next £1m;

40% of the next £1m;

30% of the remaining proceeds of £4.4m.

Total payable to Manolete £2.8m.

The Insolvent Estate will retain the balance of £4.7m. The main beneficiary will be HMRC as the largest creditor in the Insolvent Estate.

This crystallises a realised gain for Manolete of £2.6m representing a 23x Money Multiple and a Return on Investment of c.2,200%. The Funding Agreement for this case was signed in the FY19 financial year.

As this matter was well advanced at the time of publishing the Company's recent interim results for the 6 months ended 30 September 2020, there is no material difference between the realised gain and the unrealised gain as at 30 September 2020 on this matter.

Steven Cooklin, CEO of Manolete, commented: "This is another tremendous result on one of our larger portfolio cases. The previous Large Case £15m settlement announced in September 2020 was highly unusual in terms of a very long 10-year payment plan. In this more recent £7.5m completion, we will receive the majority of the £2.5m cash due to be received next week. All, or close to all, of the remaining monies due to us should be received by 31 December 2021, with any small remainder received the following year. Again, we are delighted that HMRC will be a large beneficiary of this settlement and we applaud the excellent work undertaken by the Liquidator and his legal team in resolving this matter."

For further information, please contact:

Manolete Partners Plc                                                              via Instinctif Partners

Steven Cooklin (Chief Executive Officer)

Peel Hunt (NOMAD and Joint Broker)                                     +44 (0)20 7418 8900

James Britton

Rishi Shah

Duncan Littlejohns

Liberum (Joint Broker)                                                             +44 (0)20 3100 2000

Richard Crawley

James Greenwood

Instinctif Partners (Financial PR)

Tim Linacre                                                                                  +44 (0)7949 939237

Lewis Hill                                                                                      +44 (0)7837 674600