Major Shareholders

The information below is correct at 31 May 2018.

Issued Share Capital

186,420,598 Ordinary 10p shares.

The securities are currently traded on AIM.

There are currently no restrictions on the transfer of securities.

Major shareholders (3% or over)

Perpetual Income & Growth Investment Trust – 9.99%

J O Hambro Capital Management – 9.93%

Invesco Perpetual UK Strategic Income Fund – 9.51%

Majedie Asset Management – 8.51%

Ruffer Absolute Return Fund – 6.89%

PPS Bassi – 5.43%

Invesco Perpetual UK Equity Pension Fund – 4.64%

EFG Harris Allday – 4.33%

CF Ruffer Total Return Fund – 4.16%

Miton Asset Management – 4.05%

Aberdeen Standard Investments – 3.25%

Shares not in public hands amounted to 44.52% of the Issued Share Capital.

REI PLC – REAL ESTATE INVESTORS PLC – AIM listed