Termination of Discussions

On the 17 June 2024, the Board gave a positive update on the progress of discussions with 2Mee Limited ("2Mee"), the proposed RTO transaction, as well as a commercial trading update on 2Mee. However, despite the Board's best efforts and those of our Broker, it has become evident that, due to the current difficult market conditions for small companies in general, we have been unable to gain sufficient interest from potential investors for the transaction. The Board and the management of 2Mee have therefore reluctantly made the difficult decision to terminate discussions.

The Board understands that this will be a significant disappointment to all shareholders, especially as this is the second time the Company has almost completed an RTO but, for reasons beyond its control, has been unable to complete.

The Company's financial position is such that it is unable to complete an audit for the year ended 31 December 2023 without a further injection of cash. Until such additional funding has been secured, and the audit has been completed, the Company's shares will remain suspended.

The Board has limited options available unless some additional funding can be obtained in the short term and is in urgent discussions with its advisers and major shareholders in this regard. A further announcement will be made when the Board has agreed on the best course of action.