Result of Tender Offer

Legal Entity Identifier: 2138006S6U2X7L4R8V74

13 March 2018

TERRA CAPITAL PLC ("the Company")

Results of Tender Offer

Terra Capital plc (AIM:TCA) announces that further to the announcement of the Tender Offer on 15 February 2018 and the results of the EGM held on 9 March 2018, the Tender Offer for the purchase of up to 6,146,931 Ordinary Shares (representing 10.0 per cent. of the Ordinary Shares in issue as at 29 December 2017 excluding Ordinary Shares held in treasury) closed at 1.00 p.m. on 12 March 2018.

A total of 5,829,690 Ordinary Shares were validly tendered under the Basic Entitlement of the Tender Offer. This equates to approximately 9.5 per cent. of the Ordinary Shares in issue as at 29 December 2017 (excluding Ordinary Shares held in treasury), and approximately 95 per cent. of the Ordinary Shares in respect of which the Tender Offer was made. Excess tenders will be satisfied to the extent of a further 317,241 Ordinary Shares, representing 1.77 per cent. of the excess Ordinary Shares tendered.

In total, 6,146,931 Ordinary Shares were validly tendered under the Tender Offer, representing 10.0 per cent. of the Ordinary Shares in issue as at 29 December 2017 (excluding Ordinary Shares held on Treasury), all of which will be repurchased by the Company and placed in treasury. The existing Ordinary Shares held in treasury prior to the Tender Offer will be cancelled (6,829,924 Ordinary Shares).

Creation of assured payment obligations for the proceeds of the Tender Offer in respect of Ordinary Shares in uncertificated form will take place on 15 March 2018 and the dispatch of cheques for the proceeds of the Tender Offer for Ordinary Shares in certificated form will take place in the week commencing 18 March 2018.

Capitalised terms and expressions have the same meanings as those attributed to them in the Company's Circular dated 15 February 2018.

For more information, please visit www.terracapitalplc.com or contact:

Galileo Fund Services Limited (Administrator)

Frazer Pickering

+44 1624 692600

Panmure Gordon (UK) Limited (Nominated adviser and corporate broker)

Paul Fincham or Jonathan Becher

+44 20 7886 2500

Terra Capital plc.

Ian Dungate, Director

+44 1624 692600

NOTES:

Terra Capital plc is an AIM quoted investment company focussed on generating high absolute returns while attempting to keep volatility to a minimum. The Fund predominantly invests in under-researched and under-valued companies listed on Frontier Market stock exchanges. The Fund Manager targets for investment companies that it believes are trading for less than their intrinsic worth and so, aside from any potential growth prospects, provide scope for capital appreciation as a result of a reversion towards their underlying value. Investments are also made in companies which are viewed as trading at fair value but which offer opportunities for growth at a reasonable price. The Investment Manager believes many such 'value' opportunities can be found in Frontier Markets due to inherent market inefficiencies in such markets. The Manager utilises in-house teams of its own analysts, resident on the ground in areas of interest to investigate suitable opportunities rather than rely on third party research.

END