Scrip dividend, PDMR dealing, TVR

Elections to accept the scrip dividend alternative with regard to the Interim dividend of 5.5p per share for the year ended 31 October 2023 paid on 31 October 2023 were received from the holders of 2,804,248 ordinary shares of 25p each in the Company ("Ordinary Shares") in aggregate. This represents approximately 12.2% of the Ordinary Shares in issue on 29 September 2023, being the record date for the interim dividend. Accordingly, 38,809 new Ordinary Shares have been issued in satisfaction of such elections at an equivalent price of £3.98 each, increasing the enlarged issued Ordinary Share capital of the Company to 22,955,163 Ordinary Shares. The additional cost to the Company of the dividend paid in cash amounts to approximately £1,106,208 in total.

In the issue, as set out in the dealing notifications below, two PDMRs of the Company received new Ordinary Shares in lieu of cash dividends. Following these transactions, Gareth Davies has a total beneficial interest in 50,143 Ordinary Shares representing 0.2% of the enlarged issued share capital of the Company. Claire Williams holds 3,258 Ordinary Shares representing less than 0.1%.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 3 November 2023.

Following the above transactions and for the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue as at the date of this notice is 22,955,163 with each share carrying the right to one vote. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 22,955,163.