AIFMD Arrangements

Strategic Equity Capital plc (the "Company")

AIFMD Arrangements

The Company announces the following in connection with the Alternative
Investment Fund Managers Directive ("AIFMD"):

Alternative Investment Fund Manager

The Company's Board of Directors (the "Board") has approved the appointment of
GVO Investment Management Limited ("GVOIM") as the Company's Alternative
Investment Fund Manager ("AIFM"), with effect from 22 July 2014. In order to
facilitate this appointment, the Company has terminated its existing investment
management agreement and entered into a new management agreement with GVOIM.
The new management agreement is made on the same commercial terms as the
previous agreement with GVOIM and is also compliant with the new regulatory
regime.

Depositary

As required by the AIFMD, the Board has also appointed Northern Trust Global
Services Limited to act as the Company's Depositary on the terms and subject to
the conditions of a Depositary agreement entered into between the Company, the
AIFM and the Depositary, which took effect on 22 July 2014.

The Northern Trust Company will remain as Custodian to the Company.

Contacts for enquiries:

GVO Investment Management Limited
Stuart Widdowson
020 3691 6100

Canaccord Genuity Limited (corporate broker)
Andrew Zychowski / Robbie Robertson / Lucy Lewis
020 7523 8000

Capita Sinclair Henderson Limited (company secretary)
Jonathan Carslake / Paul Richards / Daniel Roach
01392 477 500

Company website: www.strategicequitycapital.com