TAU.L Regulatory News (TAU)

8 April 2019

Tau Capital plc

("Tau" or the "Company")

Result of Extraordinary General Meeting

Update on Placing, Distribution of Cash and Prospective Board Changes

Further to the Company's announcement made on 15 March 2019, Tau announces that at the Company's Extraordinary General Meeting, held earlier today, all resolutions proposed (the "Resolutions") were duly passed.

Accordingly, it is expected that Admission will become effective and dealings in the Placing Shares and the New Ordinary Shares of no par value will commence, at 8:00 am tomorrow, 9 April 2019. It is expected that the distribution of Net Cash will be completed by 12 April 2019.

It is anticipated that the prospective Board changes, as detailed in the Company's circular to Shareholders dated 15 March 2019 (the "Circular") will occur at a point this week. Further announcements in this respect will be made in due course.

Following Admission, the Company's issued ordinary share capital will comprise 198,984,680 New Ordinary Shares of no par value (including the Placing Shares). The Company does not hold any shares in treasury. This figure (198,984,680) 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 a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

As described in the Circular, upon Admission, the Company will grant a total of 1,989,846 warrants over New Ordinary Shares to Allenby Capital Limited, pursuant to an agreement dated 9 December 2016. Each warrant will entitle Allenby Capital Limited to subscribe for one New Ordinary Share at an exercise price of US$0.001, being equal to the Placing Price, at any time until the date that is three years from Admission (the "Warrant Shares").

The results of voting on the Resolutions were as follows:

*Includes discretionary votes.

**A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any of the resolutions.

As at today's date, the Company has 48,984,680 Ordinary Shares in issue, each with one voting right. There are no treasury shares in the Company.

Defined terms used but not defined in this announcement have their meanings set out in the Circular.

Further information, please contact: