Further Acquisition of Interest in Subsidiary

Rasmala plc

('Rasmala' or 'the Company')

Further acquisition of interest in Rasmala Holdings Limited

Rasmala is pleased to announce that it has agreed to acquire a further interest in the capital of its subsidiary Rasmala Holdings Limited ("RHL") from minority shareholders. As a result of these acquisitions Rasmala's total shareholding in RHL will increase from approximately 76.3% to approximately 90%.

Total consideration for the 28,943,956 ordinary shares in RHL being acquired is approximately US $6 million.

During the financial year ending on 31 December 2015, RHL generated profits before tax from continuing operations of US$2.6 million.

Zak Hydari, Chief Executive Officer of Rasmala, commented: "We are delighted to have been able to increase our interest in RHL. It was always our objective to own 100% of RHL and this further acquisition will help us towards that target".

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