Director/PDMR Shareholding

Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities

The Company has been notified that 20,000 Ordinary Shares in the Company have been acquired by Mr Simon Holden, a Director of the Company. Following the transaction, Mr Holden holds 55,000 Ordinary Shares equivalent to 0.02 per cent. of the Company's voting rights.

Details of the transaction(s) can be found in the Notification of Dealing Forms below.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Holden

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Trian Investors 1 Limited

b)

LEI

213800UQPHIQI5SPNG39

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

TRIAN INVESTORS 1 LIMITED ORDINARY SHARES

GG00BF52MW15

b)

Nature of the transaction

Purchase of Ordinary shares

c)

Price(s) and volume(s)

Price(s)

£0.85

Volume(s)

20,000

d)

Aggregated information

- Aggregated volume

- Price

- Principal amount

20,000

£0.85

£17,000

e)

Date of the transaction

11 June 2020

f)

Place of the transaction

London Stock Exchange, SFS Market

For further enquiries please contact:

Ocorian Administration (Guernsey) Limited

(Administrator and Company Secretary)

Mariana Enevoldsen

Tel: 01481 742 742