AGM Statement

The Board of the Company provides an update to shareholders ahead of its Annual General Meeting ("AGM") to be held at 10.30am today at the offices of Orrick, Herrington & Sutcliffe (UK) LLP, 107 Cheapside, London EC2V 6DN.

At the AGM, the Chairman will make the following statement:

"Further to the Company's announcement on 22 March 2024, we are pleased to report that the possible acquisition of 100% of the assets and liabilities (the "Business") of S-Ventures plc ("SVEN"), (the "Proposed Acquisition") is progressing and that the disposal of its debt and equity-linked investment portfolio has been successfully completed thereby leaving the Company with a significant cash balance and a more focused investment portfolio. One of the key elements of the Proposed Acquisition is the completion of the SVEN audit for the 15 months to 31 December 2023. SVEN has now engaged its auditors and work is underway. At the same time, due diligence is at an advanced stage and the underlying businesses of SVEN, notably Juvela, Pulsin and Market Rocket, are trading in line with expectations.

We will provide a further update and more detail with regard to the timing of the Proposed Transaction in due course."