Result of Tender offer

STRATEGIC EQUITY CAPITAL PLC (the "Company")                  

                Result of Tender Offer and Total Voting Rights                 

6 November 2012

Background

On 4 October 2012, the Company published a circular to Shareholders (the "
Circular") detailing the terms and conditions of the tender offer for up to 4
per cent. (being up to 2,692,693 ordinary shares) of its issued share capital
(excluding Shares held in treasury) (the "Tender Offer").

At the Annual General Meeting of the Company held on 1 November 2012, the
special resolution authorising the Company to make market purchases of its
Shares pursuant to the Tender Offer was approved.

Results of the Tender Offer

The latest time for acceptance of the Tender Offer was 3.00 p.m. on Friday, 2
November. 32,321,867 Shares were validly tendered. As a result, all valid
tenders will be satisfied in full up to the Basic Entitlement and, following
application of the scale-back mechanism (as set out in the Circular), tenders
in excess of the Basic Entitlement will be satisfied to the extent of 1.7129
per cent. of the excess Shares tendered (each such satisfied entitlement being
rounded down to the nearest whole number of Shares). Accordingly, 2,692,669
Shares, representing 4 per cent. of the Company's current issued share capital,
will be purchased at the Tender Price. The Tender Price, which will be
announced later today, will be a price equal to the NAV per Share (including
undistributed current period income and deducting the estimated costs of the
Tender Offer) as at close of business on 2 November 2012, less a 10 per cent.
discount.

As set out in the Circular, the Shares in respect of which tenders have been
accepted will be purchased by Canaccord Genuity Limited ("Canaccord Genuity")
pursuant to the Tender Offer and the Company will buy-back such Shares from
Canaccord Genuity for cancellation.

Expected Timetable for Settlement

The expected timetable for settlement of the Tender Offer consideration is as
follows:

                                                                           2012
                                                                               
Payments through CREST made in respect                     Thursday, 8 November
of Shares held in uncertificated form                                          
successfully tendered                                                          
                                                                               
CREST accounts settled in respect of                       Thursday, 8 November
unsold tendered Shares held in                                                 
uncertificated form                                                            
                                                                               
Cheques despatched in respect of Shares                      Friday, 9 November
held in certificated form successfully                                         
tendered                                                                       
                                                                               
Balancing certificates despatched in                      By Friday, 9 November
respect of unsold tendered Shares held                                         
in certificated form                                                           

Total Voting Rights

With effect from 8 November 2012, the Company's issued share capital will
consist of 64,624,655 Shares (being ordinary shares of 10p each in the capital
of the Company), carrying one vote per share. No Shares will be held in
treasury.

Shareholders should use the figure of 64,624,655 as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Capitalised terms and expressions shall have the same meanings as those
attributed to them in the Circular.

Enquiries:

Capita (Company Secretary)
Tracey Brady                                                01392 477 513

SVG Investment Managers Limited
Adam Steiner                                                020 7010 8900

Canaccord Genuity Limited                                   020 7523 8000
Andrew Zychowski
Lucy Lewis

Canaccord Genuity Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting for Strategic Equity
Capital plc and is acting for no-one else in connection with the Tender Offer
and will not be responsible to anyone other than Strategic Equity Capital plc
for providing the protections afforded to clients of Canaccord Genuity Limited
nor for providing advice in connection with the contents of this announcement
or any other matter referred to herein. Canaccord Genuity Limited is not
responsible for the contents of this announcement. This does not exclude or
limit any responsibilities which Canaccord Genuity Limited may have under the
Financial Services and Markets Act 2000 or the regulatory regime established
thereunder.