Notification of Major Interest in Shares

For filings with the FCA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Circle Holdings PLC

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

An acquisition or disposal of voting rights

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):

Share Offer changing the Shares Outstanding

X

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

BlueCrest Capital Management LLP

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

BlueCrest International Master Fund Ltd

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

9 January 2014

6. Date on which issuer notified:

15 January 2014

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

Below 7%, 6%

8. Notified details:

A: Voting rights attached to shares viii, ix

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 x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

9,252,685

9,252,685

9,252,685

4.98%

JE00B4V99J57

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

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

% of votingrights

n/a

n/a

n/a

n/a

n/a

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Warrant

£1.52

open

anytime

75,510

Nominal

Delta

0.04%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

9,328,195

5.02%

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

Proxy Voting:

10. Name of the proxy holder:

n/a

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

n/a

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

n/a

13. Additional information:

14. Contact name:

Margot Marshall

15. Contact telephone number:

+44 (0)20 3180 3047