Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Real Estate Credit Investments PCC Limited

The Company was advised on Tuesday, 11 August 2015 that Mr. Bob Cowdell, Chairman of Real Estate Credit Investments PCC Limited, purchased 121 Ordinary shares at a price of 180p per share on 11 August 2015, through his ISA dividend reinvestment plan.

Mr. Cowdell's interest in the Company is now therefore 8,656 Ordinary shares representing less than 0.01% of the issued Ordinary shares.