Further to the announcement made by Rasmala on 28 January 2019 in relation to the tender offer for 20% of shares (the “Tender Offer”), the Company today announces the result of the Tender Offer.

Result of the Tender Offer

The Company was authorised to purchase up to 3,162,576 Shares. A total of 2,467,440 Shares (being 15.6 per cent. of the Company’s Shares in issue as at 28 January 2019) were validly tendered under the Tender Offer and, as a result, the Tender Offer was not fully subscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will also be satisfied in full, meaning 100% of the excess Shares tendered will be purchased. A total of 2,467,440 Shares will be repurchased by the Company under the Tender Offer and cancelled.

It is expected that cheques will be despatched with proceeds in respect of successfully tendered Shares and that the balancing Share certificates in respect of any unsold certificated Shares will be despatched during the week commencing 4 March 2019.

Following the implementation of the Tender Offer, the Company will have 13,345,442 Shares in issue.

Accordingly, 13,345,442 Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.