ELTA.L Regulatory News (ELTA)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Electra Private Equity 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 qualifying 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

An event changing the breakdown of voting rights

Other (please specify):

Change in Issuer's number of Total Voting Rights

√

3. Full name of person(s) subject to thenotification obligation: iii

(i) Sherborne Investors Management (Guernsey) LLC

(ii) Sherborne Investors Management LP

(iii) Sherborne Investors Management GP, LLC

(iv) Edward Bramson

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

SIGB, LP, acting by its general partner Sherborne Investors (Guernsey) GP, LLC, and Sherborne Investors (Guernsey) GP, LLC, each as a counterparty to the investment management agreement with Sherborne Investors Management (Guernsey) LLC

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

23 December 2016

6. Date on which issuer notified:

23 December 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

>29%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

(ISIN Code: GB0003085445)

11,360,013

11,360,013

11,426,086

29.85%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

11,426,086

29.85%

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

Edward Bramson is the managing member of Sherborne Investors Management GP, LLC. Edward Bramson and Stephen Welker are each members of an investment committee of Sherborne Investors Management GP, LLC which makes all decisions regarding the acquisition, holding, voting, or disposition of investment securities managed, directly or indirectly, by Sherborne Investors Management GP, LLC.

Sherborne Investors Management GP, LLC is the general partner of Sherborne Investors Management LP. Sherborne Investors Management LP is the sole member of Sherborne Investors Management (Guernsey) LLC.

Sherborne Investors Management (Guernsey) LLC is an investment manager which is entitled to exercise discretion over the voting rights in the issuer held by Sherborne Investors (Guernsey) GP, LLC as the general partner of SIGB, LP, which are the subject of this notification of major interest in shares.

Proxy Voting:

10. Name of the proxy holder:

N/A

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

N/A

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

N/A

13. Additional information:

Sherborne Investors Management LP is an investment adviser registered with the United States Securities and Exchange Commission under the U.S. Investment Advisers Act 1940. Sherborne Investors Management (Guernsey) LLC, as a wholly owned subsidiary of Sherborne Investors Management LP, is registered and regulated under the U.S. Investment Advisers Act 1940 as an investment adviser relying on the registration of its parent, Sherborne Investors Management LP.

14. Contact name:

Eleanor Cranmer

Frostrow Capital LLP

Company Secretary to Electra Private Equity PLC

15. Contact telephone number:

020 3008 4613