Result of Tender offer

21 March 2022

Strategic Equity Capital plc

Results of Tender Offer

The board of Strategic Equity Capital plc ("SEC" or the "Company") announces the final results of the Tender Offer, details of which were set out in the circular to Shareholders dated 28 February 2022 (the "Circular").

Defined terms used in this announcement have the same meaning as given to them in the Circular.

A total of 41,095,966 Shares (being 64.9 per cent. of the Company's Shares in issue as at 6.00 p.m. on 18 March 2022 (the Record Date)) were validly offered for tender under the Tender Offer. As a result, the Tender Offer was oversubscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and Excess Tenders will be satisfied to the extent of approximately 3.1 per cent. of the excess Shares tendered.

Subject to the passing of the Resolution to be proposed at the General Meeting convened for 11.00 a.m. on 23 March 2022, a total of 6,329,685 Shares will be repurchased by the Company under the Tender Offer and subsequently cancelled. The Resolution is a special resolution requiring a majority of at least 75 per cent. of Shareholders entitled to vote and present in person or by proxy to vote in favour in order for it to be passed.

It is anticipated that consideration for the Shares purchased under the Tender Offer will be sent to Shareholders on 24 March 2022 by way of a credit to their CREST accounts (for CREST account holders) or during the week commencing 4 April 2022 in the form of a cheque (for non-CREST account holders).  CREST accounts will be credited with unsuccessfully tendered Shares, balancing certificates will be issued and share certificates for unsuccessfully tendered Shares will be sent to Shareholders during the week commencing 4 April 2022.

The result of the General Meeting and details of the Tender Price will be announced by close of business on 23 March 2022.

If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service.

LEI: 2138003R5GB8QZU2G577

Enquiries:

Strategic Equity Capital plc
Richard Hills (Chairman)
(via Juniper Partners below)

Juniper Partners (Company secretary) [phone]
Steven Davidson

Liberum Capital Limited
Chris Clarke      [phone]   
Darren Vickers
Owen Matthews

KL Communications (Media enquiries) [phone]
[e-mail]
Charles Gorman
Will Sanderson