KOOV.L Regulatory News (KOOV)

Koovs plc

Share Price Movement

and

Interim Funding

Koovs plc ("Koovs", or the "Company") (AIM: KOOV) notes the recent movement in its share price and would like to inform the market that it knows of no specific reason for this price movement.

On 1 March 2018, the Company announced:

- the Board had determined that a total of up to £50m of further investment would be required to fund the Company's acceleration plan;

- in the immediate term the Board would continue to focus on cash preservation; and

- as at 1st March 2018 the Company had cash balances of £3.5m, with future monthly outgoings forecast to be £0.75m per month.

The Company expects shortly to announce that it has secured interim funding via a loan of £1.5m from Lord Waheed Alli, a director of the Company. This interim funding will provide the Company with cash resources until the end of August 2018. On the basis this loan is entered into, it is expected to be classified as a related party transaction.

The Board actively continues the previously announced dialogue with potential new investors in respect of the £50m funding requirement and will update the market in due course.

For further information please contact: