AMBR.L Regulatory News (AMBR)

Ambrian plc

Update regarding Liquidation of Consolidated General Minerals plc

Second Tranche Deferred Convertible Securities

Ambrian plc (the "Company") confirms that the final meeting of the shareholders of Consolidated General Minerals plc (in liquidation) ("CGM") held in accordance with section 94 of the Insolvency Act 1986 (and at which the liquidators of CGM presented their account of the winding up) was held on 21 March 2016. The liquidators of CGM subsequently filed their account of the winding up and return to the Registrar of Companies of the holding of the CGM shareholders meeting at Companies House on 1 April 2016.

Companies House has therefore confirmed that CGM will be finally dissolved on 1 July 2016.

On the date on which CGM is finally dissolved, the 9,707,102 Second Tranche Deferred Convertible Securities of £0.01 each will automatically convert into 9,707,102 ordinary shares of £0.01 each (the "New Ordinary Shares"). No adjustment of the conversion rate of each of the Second Tranche Deferred Convertible Securities into a New Ordinary Share is required.

On the date of such conversion of the Second Tranche Deferred Convertible Securities into the New Ordinary Shares (the "Conversion Date"), share certificates for Second Tranche Deferred Convertible Securities will cease to be valid. Entitlements to New Ordinary Shares arising on the conversion of Second Tranche Deferred Convertible Securities will be issued in certificated form only and share certificates are expected to be despatched to existing holders of Second Tranche Deferred Convertible Securities within 7 business days of the Conversion Date. Holders who wish to subsequently hold their New Ordinary Shares in CREST should follow the standard procedures for the dematerialisation of securities.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") as soon as practicable following the Conversion Date.

A further announcement will be made by the Company on or around the Conversion Date confirming that the Second Tranche Deferred Convertible Securities have been converted into the New Ordinary Shares and the scheduled date for Admission.

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