Circular and Notice of General Meeting

Honeycomb Investment Trust plc

Publication of a Circular and Notice of General Meeting

Honeycomb Investment Trust plc (the "Company") announces that a circular (the "Circular") relating to the continued operation of the Company as an investment trust (the "Continuation Vote") will be posted to the Company's shareholders (the "Shareholders") today.

Under the articles of association of the Company, a continuation vote is scheduled to be held at the Company's annual general meeting in 2021 in order to extend the Company's life for another five years. However, the Directors believe that it is beneficial to the Company for the Continuation Vote to be held earlier.

The Company's primary leverage facility is due to mature within the next 12 months and the Directors believe that, to secure optimal terms on a replacement facility, it is important that the Continuation Vote is passed by Shareholders to give greater certainty as to the Company's longer term investment period. If secured, the Company will be in a stronger position to negotiate more favourable terms with lenders which the Directors believe will provide enhanced returns to Shareholders. In addition, increased certainty as to the life of the Company will further enable the Company to continue to build effective long-term partnerships with key new and existing counterparties and borrowers. It will also allow the Company the opportunity to continue to grow and diversify its portfolio whilst continuing to deliver its investment objective of providing Shareholders with an attractive level of dividend income and capital growth.

The Continuation Vote will be proposed as an ordinary resolution at a general meeting of the Company (the "General Meeting"). The Circular therefore encloses a Notice of General Meeting confirming that the General Meeting will take place on Monday 16 December 2019 at 10:30am at the offices of Pollen Street Capital at 11-12 Hanover Square, London, W1S 1JJ. Alongside the Circular and Notice of General Meeting, a form of proxy will also be posted to Shareholders today for use in connection with the Continuation Vote at the General Meeting.

Copies of the Circular and Notice of General Meeting will shortly be available for inspection on the Company's website at www.honeycombplc.com and will also be available from the Company's registered office at 6th Floor 65 Gresham Street, London, England, EC2V 7NQ.

For further information about this announcement please contact:

Pollen Street Capital - Investment Manager

Chris Palmer: +44 (0)20 3728 6740

Steve Plowman: +44 (0)20 3728 6761

Liberum Capital Limited - Broker

Chris Clarke / Louis Davies: +44 (0)20 3100 2000

Camarco - Investor Relations

Ed Gascoigne-Pees: +44 (0)20 3757 4994

Link Company Matters Limited - Corporate Secretary

Paula O'Reilly: +44 (0)20 7954 9796

29 November 2019