NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

9 August 2017

QANNAS INVESTMENTS LIMITED

Result of Tender Offer and

Directors' Shareholdings

Qannas Investments Limited (the "Company" or "QIL"), the closed-ended investment company listed on the AIM market (AIM:QIL), posted to shareholders on 21 July 2017 a circular ("Circular") in respect of a tender offer to purchase up to 8,888,889 Ordinary Shares at a tender price of US$0.90 per Ordinary Share, up to an aggregate value of approximately US$8.00 million.

Result of Tender Offer

The Company can confirm that a total of 8,888,889 Ordinary Shares have been tendered in connection with the Tender Offer. Tenders for up to 12.9 per cent. of Shareholders' Ordinary Shares and Depositary Interests registered in their name at the Record Time (rounded down to the nearest whole Ordinary Share) will be met in full. Tenders received for surplus Ordinary Shares will be accepted in proportion to the number of additional Ordinary Shares tendered so that the total number of Ordinary Shares purchased pursuant to the Tender Offer does not exceed 8,888,889.

The Ordinary Shares purchased by the Company pursuant to the Tender Offer will be held in treasury. CREST accounts will be credited for revised holdings of Ordinary Shares on 10 August 2017, payment through CREST will be made for uncertificated Ordinary Shares purchased pursuant to the Tender Offer by 18 August 2017 and cheques and balancing share certificates will be despatched for certificated Ordinary Shares purchased pursuant to the Tender Offer by 18 August 2017. 

Directors' Interests

Certain of the directors of the Company, have tendered Ordinary Shares under the Tender Offer, their participation is set out below:

*the parent company of ADCM Ltd, being the Company's Investment Manager.

Total Voting Rights

With effect from 10 August 2017, the Company's issued share capital will consist of 78,133,409 Ordinary Shares and the Company will hold 18,193,697 Ordinary Shares in treasury.

The total number of voting rights in the Company is therefore 59,939,712. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Terms used and not defined in this announcement bear the meaning given to them in the Circular.

For further information please contact:

Qannas Investments Limited                                                                          Tel: 015 3481 8022

Vinod Rajput

ADCM Ltd. (Investment Manager)                                                                   Tel: +971 2 639 0099

Mustafa Kheriba

finnCap Ltd                                                                                                    Tel: 020 7220 0500

Henrik Persson/James Thompson (Corporate Finance)