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BML Capital Presses ESSA Pharma (EPIX) for Shareholder Payout via Liquidation, Sale, or Special Dividend

Summary

On April 24, 2025, BML Capital Management, which holds 9.5% of ESSA Pharma’s outstanding shares, sent a letter to the board supporting recent shareholder calls for a return of capital. BML advocates for a liquidation of the company as the most sensible option given current market conditions but is also open to alternatives that would rapidly return most of ESSA’s cash to shareholders, such as a company sale or a large special dividend.

April 24, 2025

Board of Directors

ESSA Pharma Inc.
999 West Broadway
Vancouver, British Columbia
Canada V5Z iK5

c/o Dr. David R. Parkinson, President and CEO

Dear Directors:

I am writing on behalf of BML Capital Management, LLC and BML Investment Partners L.P. (collectively BML), a holder of 9.5% of the outstanding shares of ESSA Pharma, Inc.

BML agrees with recent public suggestions by other large shareholders that a return of the company’s capital to shareholders via liquidation is a sensible course of action in today’s difficult market conditions. As such, BML would be supportive of such an action, or, in the absence of this, a similar transaction that would quickly return the majority of the company’s cash to shareholders, such as a sale of the company or a large special dividend.

Regards,

Braden M Leonard

Managing Member
BML Capital Management, LLC

Source:

https://www.sec.gov/Archives/edgar/data/1373604/000137360425000063/bmlletter.htm

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