Holding(s) in Company (Correction)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

SHANKS GROUP PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

ü

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation:

STERLING STRATEGIC VALUE FUND S.A., SICAV-RAIF

4. Full name of shareholder(s)  (if different from 3.):

5. Date of the transaction and date onwhich the threshold is crossed orreached:

1 January 2017

6. Date on which issuer notified:

3 January 2017

7. Threshold(s) that is/are crossed orreached:

Below 3%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary shares

25,925,000

25,925,000

Below 3%

GB0007995243

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

Below 3%

Below 3%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

This disclosure has been calculated based on total voting rights in issue in the amount of 609,580,890.

On 1 January 2017, Notz, Stucki Europe S.A were appointed to act as alternative investment fund manager in respect of Sterling Strategic Value Fund S.A., SICAV RAIF's interest in the 25,925,000 shares in Shanks Group Plc. On that date Sterling Strategic Value Fund S.A., SICAV RAIF ceased to have a right to exercise, directly or indirectly, voting rights in relation to such shares. Such 25,925,000 shares are held by UBS Europe SE, Luxembourg Branch as depositary bank for Sterling Strategic Value Fund S.A., SICAV RAIF and Notz, Stucki Europe S.A. have discretion to exercise the voting rights attached to those shares.

14. Contact name:

Mr. Paolo Faraone or Mr.Girolamo Salice

15. Contact telephone number:

+352 26 27 11 1