Hornby Regulatory News (HRN)

5 December 2017

Hornby plc

("Hornby" or the "Company")

Result of General Meeting and

Result of Placing and Open Offer

On 17 November 2017, Hornby announced a proposed Acquisition and Placing and Open Offer to raise, in aggregate, approximately £12.0 million (before expenses) through the issue of 40,677,968 New Ordinary Shares at an issue price of 29.5 pence per New Ordinary Share.

The Company is pleased to announce that at its General Meeting held earlier today, all of the Resolutions set out in the circular dated 17 November 2017 were duly approved.

Further to this, the Company can now confirm that it will issue, pursuant to the Placing and Open Offer, 40,677,968 New Ordinary Shares at 29.5 pence per share, raising approximately £12.0 million. The issue of New Ordinary Shares will be split as follows:

· 33,898,306 shares under the firm element of the Placing, raising gross proceeds of approximately £10.0 million;

· 316,912 shares taken up under the Open Offer, including excess applications, raising gross proceeds of approximately £0.1 million; and

· 6,462,750 shares under the conditional element of the Placing, raising gross proceeds of approximately £1.9 million.

Application has been made for the 40,677,968 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the New Ordinary Shares at 8.00 a.m. on 7 December 2017. Following Admission the Company's issued share capital will comprise 125,261,172 Ordinary Shares. From Admission, the figure of 125,261,172 may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

David Adams, Interim Chairman said,

"Since the interim results in November, we have received support from our major shareholder and our lending bank, which has culminated in the success of the placing and open offer. The proceeds of the fundraising will strengthen our balance sheet and means we are well positioned to execute the new strategy, as outlined in the circular. We look forward to updating shareholders on progress in due course."

Defined terms used in this announcement will have the meanings (unless the context otherwise requires) set out in the circular dated 17 November 2017, which is available on the Company's website www.hornby.plc.uk.

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