Monreal plc Monreal plc Monreal plc
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Monreal PLC

The Company is an AIM Rule 15 cash shell, pursuant to the disposal by the Company of all or substantially all, of its existing trading business, activities or assets, approved by shareholders at a General Meeting held on 1 December 2017 and completed on 4 December 2017.

As an AIM Rule 15 cash shell, the Company will be required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company as defined under the AIM Rules)) on or before the date falling six months from 4 December 2017 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.

Further to the announcement made on 4th June 2018, the Board of Monreal is intending to apply for admission of the Company's Ordinary Shares to trading on the NEX Exchange Growth Market ("NEX Admission"), and that it is seeking Shareholder approval for the adoption of the Investment Strategy, cancellation of the admission of its Ordinary Shares to trading on AIM ("AIM Cancellation") and the NEX Admission. (together the "Proposals").

If the Proposals are approved by shareholders, the Company will adopt the following Investing Strategy:

The Company's objective is to generate an attractive rate of return for shareholders, predominantly through capitalappreciation, by taking advantage of opportunities to invest in the technology, media, and telecom (TMT) sector.

The Company aims to provide equity, debt, and equity-related investment capital, such as convertible loans, to growing companies which are seeking capital for growth and development, consolidation or acquisition, or as pre-IPO financing.

The Company may undertake a reverse takeover or may make investments into companies that it considers goodcandidates for future reverse takeovers.

In addition, the Company may invest in publicly traded equities which have securities listed on a stock exchange or over-the-counter-market. These investments may be in combination with additional debt or equity-related financing, and inappropriate circumstances in collaboration with other value added financial and/or strategic investors.

The Company is not geographically restricted in terms of where it will consider making investments but is anticipated that most of its attention will be focussed on the UK. It will consider any geographical area, to the extent that the investment fits within the Company's investment criteria. The Company will not be subject to any borrowing or leveraging limits. The Company does not intend to be an active investor, but the Directors will reserve the right to seek representation onthe board of the investee company where they feel that an investee company would benefit from their skill and expertise.The Directors believe that their broad, collective experience, together with their extensive network of contacts, will assistthem in identifying, evaluating and funding suitable investment opportunities. External advisers and investmentprofessionals will be engaged as necessary to assist with sourcing and due diligence of prospective opportunities. TheDirectors will also consider appointing additional directors with relevant xperience if the need arises.

The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends.