BNN Resources Regulatory News (BNN)

3 January 2018

BNN Technology plc

("BNN Technology", the "Company" and, together with its subsidiaries and entities that are controlled by the Company, the "Group")

Announcement re: Director's Loan

BNN Technology (AIM: BNN), a London-listed Chinese technology, content and services company announces that, further to its announcement on 24 October 2017, it is continuing its discussions with Mr Darren Mercer relating to the repayment of the outstanding loan of circa £450,000 due to the Company by him (the "Loan"). £270,000 of the Loan has now been offset by a bonus owed to Mr Mercer which was agreed by the Company in June 2016 (the "Bonus") and which had not been paid to date.

The board of directors of the Company (the "Board") became aware of the agreement to pay Mr Mercer the Bonus in Q2 2017 and it is acknowledged that the Company failed to account for this sum in its annual report for the year ended 31 December 2016, or any subsequent disclosure and the Board is undertaking to investigate this error.

The Company has recently been presented with information which Mr Mercer believes could reduce the amount of the remainder of the Loan. This is now under review and a revised balance of the Loan, together with a revised repayment schedule is expected to be agreed with Mr Mercer shortly.

Additionally, further amounts which were not included in the Loan are also being investigated by the Board, in light of the findings of the PwC Report.

A further announcement will be made in due course.

This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").

ENDS

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