Armadale Capital Plc (‘Armadale’ or ‘the Company’)

Number of Shares in Issue

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, confirms the number of ordinary shares outstanding.

In accordance with Transparency Directive of the European Commission 2013/50/EU, the figure for number of Ordinary Shares in issue is 211,016,310. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore is 211,016,310 and this figure should be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Rules and Transparency Rules.

**ENDS**

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

More information can be found on the website www.armadalecapitalplc.com.

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