Ondine Biomed Regulatory News (OBI)

27 April 2022

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Appointment of Nominated and Financial Adviser

Ondine Biomedical Inc. (AIM: OBI), announces the appointment of Strand Hanson Limited as its Nominated Adviser with immediate effect. Arden Partners plc will continue to act as Broker to the Company.

Further to the announcements by Arden Partners plc on 11 and 14 April 2022 regarding the loss of its nominated adviser status upon the completion of its recommended takeover, the Company has appointed Strand Hanson Limited as its nominated adviser. Given the timing of the completion of the recommended takeover of Arden Partners plc, the London Stock Exchange plc has agreed that subject to initial due diligence being undertaken, Strand Hanson Limited has until 5pm on 27 July 2022 to complete its full due diligence.

There can be no guarantee on the outcome of the full due diligence and its impact on Strand Hanson Limited's decision to continue to act as nominated adviser. Accordingly, in such circumstances there is a risk that if Strand Hanson Limited does not continue to act as nominated adviser following completion of its full due diligence and the Company has not found an alternative nominated adviser, the Company's AIM securities may be suspended pursuant to AIM Rule 1. If within one month of that suspension, the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled.

Notwithstanding the extension of time provided in respect of completing full due diligence obligations at engagement, Strand Hanson Limited will continue to be subject to all the ongoing nominated adviser responsibilities under the AIM Rules for Nominated Advisers.

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