Completion of Issue and Admission to AIM

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, OR TO PERSONS RESIDENT OR PHYSICALLY PRESENT IN, THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

Sherborne Investors (Guernsey) B Limited

29 November 2012

Sherborne Investors (Guernsey) B Limited

Completion of Issue and Admission to AIM

Sherborne Investors (Guernsey) B Limited (the "Company") is pleased to announce that it has raised gross proceeds of £207 million by issuing 207 million Shares at the Issue Price of £1.00 per Share. The Shares will commence trading on AIM at 8.00am today under the symbol SIGB.

Issue statistics:

Issue Price £1.00

Number of Issue Shares 207 million

Number of Shares in issue following the Issue 207 million

Market capitalisation of the Company at the Issue Price £207 million

Gross proceeds of the Issue £207 million

Estimated Net Proceeds of the Issue £203.7 million

Estimated initial Net Asset Value per Share (unaudited) 98.4 pence

Further details including the Admission Document are available on the Company's website at www.sherborneinvestorsguernseyb.com.

Terms in this announcement have the same meaning as those defined in the Admission Document unless otherwise stated.

Enquiries: 

FTI Consulting +44 (0)20 7269 7157

Billy Clegg

Sherborne Investors (Guernsey) B Limited +44 (0)1481 713 843

Ian Brindle (Chairman)

John Ellman-Brown (Administrator)

Sherborne Investors Management (Guernsey) LLC +1 (212) 735 1000

Stephen Welker (Managing Director)

Jefferies (Joint Bookrunner, Nominated Adviser, Financial Adviser and Broker) +44 (0)20 7029 8000

Gary Gould

Lee Morton

Graham Hertrich

HSBC (Joint Bookrunner) +44 (0)20 7991 8888

Stuart Dickson

Richard Fagan

Important Notice

This announcement has been prepared by, and is the sole responsibility of, the Company. No undertaking, representation or warranty or other assurance, express or implied, is made or given by or on behalf of the Company, Sherborne Investors Management (Guernsey) LLC, FTI Consulting, Jefferies, HSBC or any of their respective directors, officers, partners, employees, agents or advisers or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this announcement and no responsibility or liability is accepted for any such information or opinions. Nothing set out above shall exclude liability for any undertaking, representation or warranty or other assurance made fraudulently.

Jefferies and HSBC, each of which is regulated by the Financial Services Authority, are acting as Joint Bookrunners to the Company, and Jefferies is acting as nominated adviser and broker to the Company, in relation to the Placing, and will not be responsible to any person other than the Company for providing the protections afforded to its customers or for advising any other person on the contents of the Admission Document or any transaction or arrangement referred to therein.

This announcement does not constitute, or form a part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall it (or any part of it) or the fact of its release, publication or distribution, form the basis of, or be relied upon in connection with, any contract or commitment for securities in any jurisdiction. Any such purchase or subscription must be made only on the basis of the information contained in the final admission document dated 22 November 2012 in connection with the admission of Shares of the Company to trading on AIM, a market operated by London Stock Exchange plc, which may be different from the information contained in this announcement and contains additional information.

The information contained in this announcement is not intended for, and must not be distributed or disseminated to, directly or indirectly, in whole or in part, persons resident or physically present in the United States of America, including its territories and possessions, any state of the United States and the District of Columbia (together, the "United States"), Canada, Australia, South Africa or Japan, and does not constitute an offer to sell or the solicitation of an offer to buy or acquire, any shares, rights or other securities of the Company in the United States, Canada, Australia, South Africa or Japan.

In the United Kingdom, the information contained in this announcement is only distributed to, and is only directed at (i) persons who have professional experience in matters relating to investments who fall within the definition of "investment professional" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) persons who are high net worth companies, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons. This announcement must not be acted on or relied on by persons who are not relevant persons.

This announcement is not an offer of securities for sale in the United States. The shares, rights and other securities of the Company referred to in this announcement (the "Securities") have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in or into the United States or to, or for the account or benefit of, US persons (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of the Securities in the United States. The Company will not be registered under the U.S. Investment Company Act of 1940, as amended, and investors in the Securities will not be entitled to the protections of that Act.

The Securities have also not been and will also not be registered under the applicable securities laws of Canada, Australia, South Africa and Japan and, subject to certain exemptions, may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly in or into, or to or for the account or benefit of any person having a registered address in, or located or resident in, Japan, South Africa, Australia or Canada.

There will be no public offer of the Securities in Japan, South Africa, Australia or Canada. Distribution or dissemination of this announcement may be illegal in certain jurisdictions, and only certain categories of persons may be authorised to receive this announcement. All persons residing outside of the United Kingdom who receive this announcement should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to receive this announcement, or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained outside United Kingdom. The Company assumes no responsibility if there is a violation of applicable law or regulation by any person.