Holding(s) in Company

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

ALL ACTIVE ASSET CAPITAL LIMITED

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name

Ramsey Limited

City and country of registered office (if applicable)

Gibraltar

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

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

26/03/2021

6. Date on which issuer notified

29/03/2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

7.1%

8.99%

16.1%

1,012,488,572

Position of previous notification (if

applicable)

6.11%

8.99%

15.92%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rights

% of voting rights

Direct

(DTR5.1)

Indirect

 (DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

VGG017801082

71,914,575

N/A

7.1%

N/A

SUBTOTAL 8. A

71,914,575

7.1%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expirationdate

Exercise/Conversion Period

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

Subscription Option Agreement

30/11/2021

£0.50

100,000,000

8.99%

SUBTOTAL 8. B 1

8.99%

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expirationdate

Exercise/Conversion Period

Physical or cash

settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

X

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

David Von Rosen

Ramsey Limited

7.1%

8.99%

16.1%

10. In case of proxy voting, please identify:

Name of the proxy holder

N/A

The number and % of voting rights held

N/A

The date until which the voting rights will be held

N/A

11. Additional information

David Von Rosen is the ultimate beneficial owner of Ramsey Limited which holds 71,914,575

ordinary shares in the issuer and which holds an option to acquire 100m ordinary shares in the issuer. The disclosed interest assumes exercise of the option in full and the issued share capital as enlarged by that exercise. In addition, David Von Rosen holds 17,586,013 ordinary shares in the issuer in his own name, representing 1.74% of the current issued share capital.

Place of completion

Gibraltar

Date of completion

29 March 2021