Company update - requisition

This announcement contains inside information.

Strategic Equity Capital plc

27 March 2017

Company update - requisition

The Board of Strategic Equity Capital plc (the “Company”) notes the press comment over the weekend and confirms that the Company has received a request to requisition a general meeting of the Company from two of its shareholders, Ian Armitage and Growth Financial Services Limited, a subsidiary of Harwood Capital Management (“Harwood”), representing 5.02 per cent. of the Company’s issued share capital (the “Requisition”).  

The proposed resolution Mr Armitage and Harwood wish to put to a general meeting purports to require the Company to use all of its general buyback authority taken at the Company’s last annual general meeting on 9 November 2016, to make market purchases of its ordinary shares at not wider than a 5 per cent. discount to the prevailing net asset value.

The Company’s advisors are seeking clarification on the Requisition to enable it to be considered further by the Board.  A further announcement will be made in due course.

Enquiries:

Richard Hills (Chairman)                                                              0131 538 1400

PATAC Limited (Secretary)                                                         0131 538 1400

Canaccord Genuity Limited                                                         020 7523 8000

Andrew Zychowski

Lucy Lewis

Buchanan                                                                                            020 7466 5000

Richard Darby

Charles Ryland

UK 100

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