Issued Share Capital

As at 31 May 2026, the total number of voting rights in the Company is 56,534,848, comprising:

55,490,360 ordinary number of shares of 0.0001 pence each
684,006 2016 realisation shares of 0.0001 pence each‡
360,482 2021 realisation shares of 0.0001 pence each*

There are 30,970,984 exchange shares of 0.0001 pence each in existence following the utilisation of the exchange procedure of the Company and Master Fund in executing tender offers. The exchange shares carry no voting rights.

‡ The 2016 realisation shares were created on 30 November 2016.
* The 2021 realisation shares were created on 30 November 2021.

Significant Shareholdings

As at 31 May, reflecting any TR-1 notifications received or PDMR announcements made subsequently to date, the Company was aware of the shareholders holding more than 3 percent of the total voting rights of the Company:

Shareholder Ordinary shares % held



MARWYN MANAGEMENT AND EMPLOYEES
of which, individual holdings above 3%:		 7,907,401 13.99%
James Corsellis* 6,995,872 12.37%
other shareholders holdings less than 3% individually 911,529 1.61%
Marwyn Investment Management LLP, as Manager of Marwyn Value Investors LP 10,700,000 18.93%
First Equity Limited 8,000,000 14.15%
Barclays Funds Investments Limited 3,409,090 6.03%
Philip J Milton & Company Plc 2,980,036 5.27%
Cenkos CI Limited 2,779,609 4.92%
Charles Stanley & Co 2,118,563 3.75%
Premier Fund Managers Limited 2,073,813 3.67%
Octopus Investments Limited
 1,952,500 3.45%

*James Corsellis' holding includes shares held by Marwyn Capital Management Limited, a company wholly owned by James Corsellis.