Roquefort Thera Regulatory News (ROQ)

21 December 2021

Roquefort Investments plc

("Roquefort Investments" or the "Company")

Acquisition Completion,

Admission & Voting Rights

Roquefort Investments (LSE:ROQ), the London listed investment company established to acquire businesses focused on early-stage opportunities in the biotechnology sector, is pleased to announce the completion of its acquisition of the entire issued share capital of Lyramid Pty Limited ("Lyramid") for an initial consideration of a cash payment of £500,000 ("Cash Consideration") and the issue of 5,000,000 new ordinary shares ("Consideration Shares") (the "Acquisition"). The Acquisition constituted a reverse takeover of the Company pursuant to the Listing Rules.

Roquefort Investments is also pleased to announce that admission of its Enlarged Share Capital, comprising 71,900,000 ordinary shares of £0.01 each, to the Official List of the UKLA by way of a standard listing under Chapter 14 of the UKLA's Listing Rules and to trading on the London Stock Exchange's main market for listed securities will take place at 8:00a.m. today ("Admission").

The Company's Admission follows a successful placing, raising gross proceeds of £3,000,000 via the issue of 30,000,000 Ordinary Shares at a price of 10 pence per share (the "Placing"). The net proceeds of the Placing, together with existing cash, are intended to be used to fund the Cash Consideration for the Acquisition, pre-clinical drug development and working capital.

On Admission, completion of the Acquisition becomes effective and accordingly the Company has today paid the Cash Consideration.

Pursuant to a special resolution passed at the Company's general meeting held on 13 December 2021, the Company resolved to change its name to Roquefort Therapeutics plc subject to Admission. The Company will lodge the relevant documents with Companies House to effect the change of name which will become effective once confirmed by Companies House. A further announcement will be made when the change of name becomes effective. Following the change of name, the Company's ordinary shares will continue to trade under the ticker ROQ, ISIN GB00BMDQ2T15 and SEDOL code BMDQ2T1.

The Company confirms that with effect from Admission, the Company will have 71,900,000 ordinary shares of £0.01 each, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. The figure of 71,900,000 may 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 of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

Capitalised terms used in this announcement (unless otherwise defined) carry the same meanings as those ascribed to them in the Company's Prospectus dated 16 December 2021, unless the context requires otherwise.

The Prospectus and further information on the Company can be found on Roquefort Investment's website at: www.roquefortinvest.com

Stephen West, Executive Chairman, commented:

"Today is an important milestone for Roquefort Investments as we complete our acquisition of Lyramid and recommence trading on the LSE. I would like to thank the team at Lyramid for their hard work and dedication to help make this transformational transaction happen.

"The reception we have received from investors has been extremely positive and we are very excited to be embarking on the next of phase of our growth story as we continue Lyramid's development of Midkine inhibiting RNA therapeutic drugs targeting a number of diseases settings."

Enquiries:

For further information, please visit www.roquefortinvest.com and @roquefortinvest on Twitter.

LEI: ‎254900P4SISIWOR9RH34

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended‎ ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.