Issue of Equity and Director shareholding

REDDE PLC - Issue of Equity and Director shareholding

PR Newswire

London, November 3

• News Release •

Issue Date: 03 November 2016

Redde plc

(“Company”)

Issue of Equity

 Director/PDMR Shareholding

The Company is pleased to announce that, following the approval granted by shareholders at the AGM held on 26 October 2016, a final dividend of 5.15 pence per share (“Final Dividend”) was today paid to shareholders in the Company.

Including the Final Dividend, a total of 27.4 pence per share (adjusted for the share consolidation on 23 May 2014) has been paid in dividends since the original financial reconstruction of the Company in February 2013. The executive management of the Company has therefore achieved the B Share Hurdle under the B Share Incentive Scheme, pursuant to the Company’s Articles (“Articles”) as set out in the 2016 Annual Report and Accounts.

As a result of the above, upon payment of the Final Dividend, Martin Ward and Stephen Oakley’s interests in 6,940,606 and 3,470,304 B Shares respectively will convert today on a one-for-one basis to the same number of Ordinary Shares (“New Ordinary Shares”) in the Company. Application for the admission of the New Ordinary Shares to trading on AIM has been made to the London Stock Exchange, and this is expected to occur on 9 November 2016 (“Admission”).

Commenting on the share conversion Avril Palmer-Baunack, Chairman of Redde, plc said:

“The 3 year transformation of the business into a cash generative, diversified and bank debt free business since the placing at 25p, announced on 28 February 2013, has seen the market capitalisation of the company increasing by over 1,200% with a total Shareholder Return of over 500%. The return of cash through regular dividends has also seen £72.7m paid out since the shareholder backed restructure in February 2013.

The management team has worked diligently to bring about this progress and under the current strategy has positioned the Group to take on more growth opportunities. Feedback from our long term shareholders indicates that they are very pleased with these outcomes.”

Following the above transactions, Martin Ward and Stephen Oakley interests (including family interests) in the Ordinary Shares of the Company are set out below:

Following Admission, the Company’s capital shall consist of 303,956,626 ordinary shares of 0.1 pence each in issue, each with voting rights. This figure (303,956,626) may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Notes for Editors:

About Redde plc:

Founded in 1992 and working predominantly with insurance companies, insurance brokers, prestige motor dealerships, and large national fleet owners the Group provides a range of accident management, incident management and legal services.

The Group is one of the market leaders in its fields of business; it delivers accident management solutions to motorists ensuring that they remain mobile until their own vehicles are repaired or until they are put in a position to obtain a replacement and it provides legal services ensuring that they are properly compensated for their injuries and losses. Legal services also include wills and probate, family law and employment law advice.

The name Redde is associated, in Latin, with the concept of restoration.