Holding(s) in Company

29 December 2021

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Holding in Company

CIP Merchant Capital (AIM:CIP), a closed-ended investment company, announces that it was informed on 27 December 2021 that, Goldfinch SA ("Goldfinch"), a company wholly owned in equal proportion by Marco Fumagalli and Carlo Sgarbi, purchased 290,000 ordinary shares in the Company ("Ordinary Shares") (the "Share Purchase").

Following the Share Purchase, Goldfinch holds 4,811,527 Ordinary Shares, representing approximately 9.11 per cent. of the Company's issued capital. Accordingly, Marco Fumagalli is beneficially interested in approximately 4.37 per cent. of the Company's issued share capital and Carlo Sgarbi is beneficially interested in approximately 4.74 per cent. of the Company's issued share capital (including 200,000 Ordinary Shares held directly by Mr Sgarbi).

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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.