Oracle Power Regulatory News (ORCP)

29 June 2020



Oracle Power PLC

("Oracle" or the "Company")

Exercise of Warrants by HH Sheikh Ahmed Bin Dalmook Juma Al Maktoum

 & Issue of Equity

Oracle Power PLC (AIM:ORCP) announces that today it has received notices of exercise from the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum ("HH Private Office") in respect of certain pre-existing warrants to subscribe for, in aggregate, 100,000,000 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.25 pence per share. The exercise of these warrants amounts to an aggregate cash subscription of £250,000.

Application will be made to the London Stock Exchange plc for the admission of the 100,000,000 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 3 July 2020. On Admission HH Private Office will hold 300,000,000 Ordinary Shares of the shares in issue.

On Admission, the Company will have 1,977,913,151 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,977,913,151 can be used by shareholders 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 Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Naheed Memon, CEO of Oracle, said:

"The continued support that we receive from His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum is gratefully received and I am delighted that he is increasing his exposure to Oracle Power as a long-term strategic investor. With the overall shareholding of HH Private Office increasing by 50%, I believe that today's exercise of warrants reinforces His Highness's confidence in the quality of our existing interests and our ability to deliver on our commercial milestones. This is also a testament to the trust he places in the management of the Company and the belief he has in Oracle's potential to grow into an international natural resource and power developer. The management is striving to expedite progress at Thar Block VI Project and achieve its stated commercial and operational objectives. The board appreciates the support of its strategic and investment partners and remains committed to delivering high returns for the benefit of all stakeholders."

**ENDS**

For further information please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.