Result of Tender Offer

Bioquell plc

("Bioquell" or the "Company")

Result of Tender Offer

The Company today announces the final results of the Tender Offer, details of which were set out in the circular to Shareholders published by the Company on 2 June 2016 (the "Circular").

A total of 20,405,814 Ordinary Shares were validly tendered by Shareholders and accepted for purchase by N+1 Singer at the Tender Price for a total cost of £40.8million. This represents approximately 47 per cent of the Company's current share capital. 

As set out in the Circular, N+1 Singer will pay for the Ordinary Shares accepted. Following the purchase, as further set out in the Circular, the Company will buy back from N+1 Singer the Ordinary Shares purchased by N+1 Singer under the terms of the Tender Offer. The Company then intends to cancel such Ordinary Shares, reducing the share capital of the Company from 43,343,873 Ordinary Shares to 22,938,059 Ordinary Shares.

It is anticipated that consideration for the certificated Ordinary Shares purchased under the Tender Offer will be sent to Shareholders by 1 July 2016 in the form of a cheque. CREST account holders will have their CREST accounts credited by 1 July 2016. Balancing certificates will be issued and share certificates for unsuccessfully tendered Ordinary Shares will be sent by 1 July 2016.

Capitalised terms used in this announcement have the same meaning as given to them in the Circular.

If you have any questions please telephone the Shareholder Helpline on 0371 664 0321 (from inside the UK) and +44 371 664 0300 (from outside the UK). Lines are open from 9.00 a.m. to 5.30 p.m. (London time) Monday to Friday (except public holidays in England and Wales). Please note that Capita Asset Services cannot provide any financial, legal or tax advice and calls to these numbers may be monitored or recorded for security and training purposes. Calls to the Shareholder Helpline are charged at the standard geographic rate and will vary by provider. Calls to +44 371 664 0300 from outside the UK are charged at applicable international rates. Different charges may apply to calls made from mobile telephones.

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