Result of Open Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT INTENDED TO, AND DOES NOT, CONSTITUTE OR FORM ANY PART OF, AN OFFER TO SELL OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OR THE SOLICITATION OF ANY VOTE OR APPROVAL IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, ISSUANCE OR TRANSFER OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAW.

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014.

10 December 2018

Sutton Harbour Holdings plc("Sutton Harbour" or the "Company")

Result of Open Offer

On 22 November 2018, the Company published its shareholder circular (the "Circular") in connection with the Open Offer.

The Open Offer closed for acceptances at 11.00 a.m. on 6 December 2018.

The Company is pleased to announce that the Open Offer was oversubscribed by 2.8%. Valid acceptances have been received from Qualifying Shareholders in respect of 9,254,661 Open Offer Shares under their Basic Entitlements, and for 1,371,850 Open Offer Shares under the Excess Application Facility.

Qualifying Shareholders who have validly applied for their Basic Entitlement will receive this in full. Applications for Open Offer Shares under the Excess Application Facility will be scaled back pro rata to the number of Excess Shares applied for by Qualifying Shareholders under the Excess Application Facility.

The Company has therefore raised gross proceeds of approximately £3.0 million through the Open Offer. It is expected that the Admission of the 10,344,951 Open Offer Shares will become effective at 8.00 a.m. on 11 December 2018.

Open Offer Shares to be held in uncertificated form are expected to be credited to CREST accounts on 11 December 2018 and share certificates for the Open Offer Shares to be held in certificated form are expected to be despatched to shareholders within 10 days of the day of admission.

The Open Offer remains conditional upon, inter alia, Shareholder approval of the Resolutions at the General Meeting to be held later today and Admission.

Capitalised terms used in this announcement shall have the same meanings given to them in the Circular.

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