IQ-AI Regulatory News (IQAI)

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Flying Brands Limted 

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

An acquisition or disposal of voting rights 

X

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

An event changing the breakdown of voting rights

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

River & Mercantile Asset 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):

2 June 2008

6. Date on which issuer notified:

3 June 2008

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

5%

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

Units comprising ORD 1p and 'A' ORD 0.005p 

GB0003437059

1,168,858

1,168,858

1,276,858 

1,276,858

0

5.04%

0.0%

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

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

% of voting rights

1,276,858

5.04%

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

Proxy Voting:

10. Name of the proxy holder:

River and Mercantile Asset Management LLP

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