11 October 2017

Update of NOMAD STATUS

The Company today announces that it has been informed that that the London Stock Exchange has determined to rescind ZAI Corporate Finance's nomad status pursuant to Rule 11 of the AIM Rules for Nominated Advisers ("Nomad Rules") on the basis that it no longer meets the criteria in Nomad Rule 2 - bullet points 3 and 4, being that a nominated adviser must:

·     have acted on at least three Relevant Transactions during that two-year period;

·     employ at least four Qualified Executives and in this regard the Exchange will take in to account the overall experience of the Qualified Executives on an individual basis and as a team.

The recision will take effect at 7am 19 October 2017. At that point the Company's shares will be suspended from trading on AIM, pursuant to AIM Rule 1.

If it has not by then appointed a replacement nominated adviser within one month of suspension (by 20 November 2017), admission of the Company's shares to trading on AIM will be cancelled.

The Company's board is in talks with potential nominated advisers and hopes to update the market shortly.

For further information please contact: