TRANSACTIONS BY DIRECTORS AND PDMRS

DISCLOSURE PURSUANT TO DISCLOSURE AND TRANSPARENCY RULE 3.1.4R(1)(a)

SHARES HELD VIA NOMINEE - DIVIDEND REINVESTMENT

The Company was notified on 01 April 2015 of a reinvestment by the nominee provider on behalf of Sue Bruce (Non-Executive Director), pursuant to a regular standing order instruction.  Sue Bruce acquired 12 shares at a price of £15.649993 per share on 25 March 2015.

Following this transaction, Sue Bruce has a beneficial interest in 1,602 shares.