Begbies Regulatory News (BEG)

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Begbies Traynor Group PLC

2. Reason for the notification  (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights 

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

Yes

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

Fortelus Capital Management LLP

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

1 June 2009 (previously held position prior to new ruling on June 1st 2009).

6. Date on which issuer notified:

02 June 2009

7. Threshold(s) that is/are crossed or reached:

4%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights 

Number of shares 

Number of voting rights 

% of voting rights

Direct

Direct

Indirect 

Direct

Indirect

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument 

Expiration date 

Exercise/ Conversion Period/ Date 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument 

Exercise price

Expiration date

Exercise/ Conversion Period/ Date 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

CFD 

 4,111,000

Nominal

Delta

Total (A+B+C)

Number of voting rights

% of voting rights

4,110,000 shares held in instruments with similar economic effect

4.61% held in instruments with similar economic effect

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

CFD is held in the name of Fortelus Special Situations Master Fund Ltd.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Andy Low

15. Contact telephone number:

0207 389 6153