Craven House Capital Regulatory News (CRV)

Craven House Capital plc

("Craven House" or the "Company")

Placing to raise $1.9m

Craven House Capital (AIM:CRV) is pleased to announce that it has raised $1,900,000 (gross) via a placing (the "Placing").

The Placing is with existing and new investors of 190,000 new ordinary shares in the Company (the "Placing Shares") at a price of $10 per Placing Share ("the Placing Price"). Whilst this does represent a 237% premium to the closing mid-market price on 11 February 2020, it represents a 1.1% premium to the last audited NAV per share of $9.89 as at 31 May 2019.

The proceeds of the Placing Shares will be used to undertake investments further to the Company's investment strategy.

The Placing Shares represent 7.3% of Craven's existing outstanding issued share capital.

Related Party Transactions

Mr Evan Kalimtgis, a substantial shareholder in Craven House and a related party for the purposes of Rule 13 of the AIM Rules for Companies (the "AIM Rules") has agreed to participate in the Placing as follows. Mr Evan Kalimtgis subscribed at the Placing Price.

The Board consider, having consulted with the Company's Nominated Adviser, SPARK Advisory Partners Limited ("SPARK"), that the terms of the Related Party Transaction are fair and reasonable in so far as the Company's shareholders are concerned. In reaching its opinion, SPARK has taken into account the commercial views of the Directors.

Admission of the new Ordinary Shares to trading on AIM and Total Voting Rights

Application will be made for admission of 190,000 New Ordinary Shares to be issued pursuant to the Placing to trading on the AIM Market of the London Stock Exchange, which is expected to take place at 8.00 a.m. on or around 18 February 2020 ("Admission").

The Placing is conditional on Admission becoming effective. The new Ordinary Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing Ordinary Shares, including the right to receive any dividend or other distribution declared, made or paid after Admission.

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following Admission will consist of 2,853,781 Ordinary Shares of $1.00 with voting rights attached (one vote per Ordinary Share). There are no Ordinary Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs.

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About Craven House Capital:

The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.