Strategic Equity Capital Plc - 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

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