NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING

MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the

issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should

complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director/person discharging

managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer

(other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1.     Name of the issuer

2.     State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)

both (i) and (ii)

3.     Name of person discharging managerial responsibilities/director

NEIL DONALDSON - DIRECTOR

4.     State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

N/A

5.     Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial

3 ABOVE

6.     Description of shares (including class), debentures or derivatives or financial instruments relating to shares

ORDINARY SHARES

7.     Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

ALLIANCE TRUST SAVINGS

8.     State the nature of the transaction

MONTHLY SAVINGS

9.     Number of shares, debentures or financial instruments relating to shares acquired

165 shares

10.   Percentage of issued class acquired (treasury shares of that class should not be taken into

account when calculating percentage)

        0.00014%

11.   Number of shares, debentures or financial instruments relating to shares disposed

        N/A

12.   Percentage of issued class disposed (treasury shares of that class should not be taken into

account when calculating percentage)

        N/A

13.   Price per share or value of transaction

        147.375p

14.   Date and place of transaction

        13 April 2015 - UK

15.   Total holding following notification and total percentage holding following notification

(any treasury shares should not be taken into account when calculating percentage)

        TOTAL - 100,277 shares, 0.0829%

50,000 shares - 0.0413% held in name of Self Trade LR Nominees

50,277 shares - 0.0416% held through Alliance Trust Savings Plan

16.   Date issuer informed of transaction

        16 April 2015

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17.   Date of grant

        N/A

18.   Period during which or date on which it can be exercised

        N/A

19.   Total amount paid (if any) for grant of the option

        N/A

20.   Description of shares or debentures involved (class and number)

        N/A

21.   Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

        N/A

22.   Total number of shares or debentures over which options held following notification

        N/A

23.   Any additional information

        N/A

24.   Name of contact and telephone number for queries

        Paul Evitt - 0131 229 5252

Name and signature of duly authorised officer of issuer responsible for making notification

Paul Evitt

For and on behalf of

Martin Currie Investment Management Ltd

Company Secretary

Date of notification - 16 April 2015