Issue of shares to EBT and Total Voting Rights

Cadence announces, in keeping with similar schemes operated by AIM quoted companies, it has issued 12,000,000 new ordinary shares (the "EBT Shares") to the Rare Earth Minerals Employee Benefit Trust ("EBT") at a price of 1p (being par value) per new ordinary share, following a subscription by the trustee of the EBT, JTC Employer Solutions Trustee Limited, at an aggregate cost to the Company of £120,000.

Details of the EBT and the related employee share incentive plan ("SIP") are given in the Company's prior RNS of 11 September 2014.

Following admission of the EBT Shares, the EBT will hold 18,380,000 ordinary shares representing approximately 4.30% of the enlarged issued share capital of the Company following Admission (as defined below).

Application will be made to the London Stock Exchange to admit EBT Shares to trading on AIM ("Admission"). Admission is expected to occur on or around 10 April 2026. The EBT Shares will rank pari passu with the existing ordinary shares.

For the purposes of the Disclosure and Transparency Rules, following Admission, the Company's issued share capital will comprise 427,631,038 ordinary shares of 1p each. This figure may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.