Major Shareholders

AIM Securities (total in issue, percentage not in public hands), significant shareholders.

Allotted and fully paid-up shares

Number

£

Ordinary shares of 5p each (listed in AIM)

18,595,165

929,758

Directors shareholdings

Number

% of issued share capital

Neil MacDonald

45,200

0.24%

Brian Newman

10,000

0.05%

Joanna Allen

5,000

0.03%

Substantial shareholdings as at 12 November 2018

Artemis Investment Management LLP

3,598,648

19.35%

City Financial

1,694,754

9.11%

Canaccord Genuity Group Inc

1,492,228

8.02%

Schroder Investment Management

1,232,304

6.63%

James Sharp

1,031,541

5.55%

John Hayward

1,007,500

5.42%

Liontrust Asset Management

909,944

4.89%

Hargreaves Lansdown

718,531

3.86%

A J Bell Securities

641,561

3.45%

Unicorn Asset Management

567,167

3.05%

Number of shares not in public hands

The number of shares not in public hands at 10 October 2018 was 3,658,848 representing 19.67% of the issued share capital at that date.

Share options

SAYE scheme

Date Granted

Option Price

Expiry

Number Outstanding at 10 October 2018

30 Jul 2015

161.2p

1 Sept 2018

49,900

2 Aug 2016

150p

1 Sept 2019

17,040

27 Jul 2018

97.6p

1 Sept 2021

385,533

In normal circumstances options holders have a six month period in which to take up their option entitlement following completion of their three year SAYE contract.

Date Granted

Option Price

Expiry

Number Outstanding at 10 October 2018

3 Apr 2014

720.8p

31 Mar 2020

12,984

12 Dec 2014

473.33p

12 Dec 2020

19,774

4 Aug 2015

225p

30 Jun 2021

23,333

21 Dec 2015

196.17p

31 Dec 2021

150,378

3 Sept 2018

- *

13 Aug 2021

Nil *

Option holders can exercise their options between the third and sixth anniversary of the date of grant of options in accordance with with rules of the original LTIP.

*Under the terms of the new LTIP each participant will have the right to receive new ordinary shares of 5p each in the Company equal to a fixed percentage of the value created for shareholders above a share price hurdle of £2.50 (adjusted for value returned to shareholders, i.e., any dividend, over the performance period).

The Directors’ interests in share options at 10 October 2018 are as follows:

Director

Date Granted

Number

Option Price

Joanna Allen

30 Jul 2015

4,466

161.2p

Joanna Allen

21 Dec 2015

71,366

196.17p

Joanna Allen

27 Jul 2018

18,442

97.6p

Chris Walters

3 Sept 2018

- *

Nil *

Joanna Allen

3 Sept 2018

- **

Nil **

*Chris Walters will receive such number of shares as equals 3% of the growth in value above a share price hurdle of £2.50 (adjusted for value returned to shareholders, i.e., any dividend, over the performance period). ‍

**Joanna Allen will receive such number of shares as equals 2% of the growth in value above a share price hurdle of £2.50 (adjusted for value returned to shareholders, i.e., any dividend, over the performance period).