Major Shareholders

Number of securities in issue
Share capital in issue: 45,377,459 Ordinary Shares of no par value

There are no shares held in treasury.

Securities not in public hands
Percentage of AIM Securities not in public hands: 29%

Details of any restrictions on the transfer of securities
There are no restrictions on any of the Company's AIM securities

As of 23 March 2017, shareholders with an interest greater than 3% are as follows:

Hargreave Hale Limited 7,500,000 16.53%
Partners Value Investment Inc. 4,375,000 9.64%
AXA 3,750,000 8.26%
Charles Cannon-Brookes* 2,765,882 6.10%
Walker Crips 2,000,000 4.41%
Artemis Investment Management plc 1,705,543 3.76%
Neil Johnson** 1,660,000 3.66%
Henderson Global Investors Ltd 1,500,000 3.31%

*Of these, 1,357,365 shares are legally owned by Arlington Group Asset Management Limited.

**Of these, 500,000 shares are legally owned by Abingdon Capital Corporation.

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