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All Active Asset Cap (AAA.L) Block admission application

AAA announces that an application has been made to the London Stock Exchange for a block admission (‘Block Admission’) of 120,741,667 new ordinary shares of no par value in the Company that may be issued and allotted (‘New Ordinary Shares’) as a result of the exercise of existing warrants as described below. It is expected that the Block Admission will become effective on or around 23 February 2021.

The Block Admission, representing 11.9% of the current issued share capital, is being made for the issue and allotment of any New Ordinary Shares arising from:

· the exercise of warrants granted in conjunction with the placing originally announced on 23 October 2020; and

· the exercise of warrants, the grant of which was announced on 30 November 2020.

If and when issued, the New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares in the Company.

The Company will notify on a monthly basis when there are changes to the issued share capital of the Company, and these monthly figures may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company. The Company will also make six-monthly announcements regarding the utilisation of the Block Admission in accordance with rule 29 of the AIM Rules for Companies.

The Block Admission is additional and separate to the Company’s previously announced block admission pursuant to which a six monthly return was announced by the Company on 4 January 2021 and the balance of securities unissued at this date was 21,500,000 ordinary shares. Further details on this block admission are contained in the announcements made by the Company on 4 January 2021 and 2 July 2020.

Exercise of warrants and issue of equity

The Board of AAA also announces that it has, separate to the Block Admission, made an application to the London Stock Exchange for the admission to trading on AIM (‘Admission’) of 333,333 new ordinary shares of no par value in the Company (the ‘Warrant Exercise Shares’).

The Warrant Exercise Shares are being issued pursuant to the exercise of warrants to subscribe for new ordinary shares at a price of 15p per ordinary share generating proceeds of c.£50,000 for the Company. The warrants were issued as part of the placing originally announced by the Company on 23 October 2020.

The Warrant Exercise Sphares will rank pari passu in all respects with the Company’s existing ordinary shares and Admission is expected to become effective on 24 February 2021.

Total voting rights

From Admission the issued share capital of the Company will consist of 1,011,888,571 Ordinary Shares . There are currently no shares held in treasury. From Admission the total number of voting rights in the Company will therefore be 1,011,888,571 . From Admission this figure may be used by shareholders 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.


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