Company Update

1 February 2019

Tau Capital plc

("Tau" or the "Company")

Company Update

Further to the Company's announcements made on 4 December 2018 and 18 October 2018, Tau announces that the Board has decided to extend its timeline for the Company to receive and consider proposals that would ultimately involve the Company seeking an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 until 6 February 2019.

Tau has received expressions of interest from parties who are interested in performing transactions that could involve a potential recapitalisation of the Company or other forms of potential transaction, with a view to the Company subsequently seeking a reverse takeover under AIM Rule 14. There can be no certainty that any transaction will occur or as to the terms of any such transaction, should a transaction be forthcoming.

If by 6 February 2019 the Board determines that none of the potential transactions can be successfully progressed on terms that the Board believes are in the best interests of shareholders, then the Board will then consider distributing substantially all of the Company's remaining cash not required to meet operating costs and liabilities and seek a cancellation of the admission to trading of the Company's shares on AIM in accordance with AIM rule 41. This would be followed by the appointment of a liquidator of the Company.

The Company is classified as an AIM Rule 15 cash shell and as such is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) on or before 18 April 2019, failing which trading in the Company's Ordinary Shares on AIM would be suspended pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months after the date of suspension should the reason for the suspension not have been rectified.

Further announcements will be made in due course.

Further information, please contact: