VEC.L Regulatory News (VEC)

Vectura Group plc

Adjournment of General Meeting held on 27 May 2021

Chippenham, UK, 1 June 2021: On 21 April 2021, Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), announced that it proposed to pay a special dividend of 19 pence per ordinary share (the "Special Dividend") accompanied by a share consolidation. The Shareholder Circular and notice of General Meeting ("GM") in relation to the special dividend and share consolidation was posted on 23 April 2021.

On 26 May 2021, Vectura announced that a recommended cash offer for the Company by Murano Bidco Limited ("Bidco") in respect of its entire ordinary share capital. The amount of the cash consideration payable under the offer was determined with reference to the Company's existing share capital prior to the share consolidation, but after payment of the Special Dividend. Due to the fact that the resolutions to approve the Special Dividend and the share consolidation are inter-conditional, it was not possible to proceed with one, and not the other, so the Board resolved to withdraw their recommendation of the Special Dividend. In light of this, Will Downie, who chaired the GM opened the meeting and immediately withdrew all the resolutions without putting them to vote and adjourned the GM indefinitely.

As a reminder to shareholders, to replace the Special Dividend, the Board has declared an interim dividend of 19 pence per ordinary share, which was announced on 26 May 2021.

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