Placing Update

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

Circle Holdings plc

("Circle" or the "Company")

Placing Update - Exercise of Broker's Option

Circle announces that, in connection with the Placing and Subscription announced on 20 December 2013, Numis Securities Limited ("Numis") has exercised all of the Option granted by the Company in respect of a total of 5,000,000 Ordinary Shares in the Company (the "Option Shares"), with all allocations being met in full.

The Option Shares have been conditionally placed at a price of 50p per Option Share (being equal to the Placing Price). All of the proceeds of £2.5 million arising from the issue of the Option Shares will, after deduction of commissions and expenses, be received by the Company.

The Option Shares to be issued pursuant to the exercise of the Option will be issued on the same terms and conditions as other Ordinary Shares issued pursuant to the Placing and Subscription.

Capitalised terms used in this announcement have the meanings given to them in the announcement of the Placing and Subscription dated 20 December 2013.

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The distribution of this Announcement in certain jurisdictions may be restricted by law. Persons into whose possession this Announcement comes should inform themselves about and observe any restrictions on the distribution of this Announcement. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdictions. Persons receiving this Announcement should not distribute or send it into any jurisdiction where to do so would or might contravene local securities laws or regulations.

This Announcement is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or South Africa or any jurisdiction in which the same would be unlawful. Neither the Placing Shares nor the Option Shares have been and will not be registered under the Securities Act or under any state securities laws, and may not be offered or sold within the United States unless registered under the Securities Act or pursuant to an applicable exemption from, or as part of a transaction not subject to, the registration requirements of the Securities Act. Neither the Placing Shares nor the Option Shares have been and will not be registered under the applicable securities laws of Canada, Australia, South Africa or Japan and subject to certain exceptions, the Ordinary Shares may not be offered or sold in Canada, Australia, South Africa or Japan or to, or for the account or benefit of, any resident of Canada, Australia, South Africa or Japan. There will be no public offer of securities in the United States, Canada, Australia, South Africa, Japan, the United Kingdom or elsewhere.

This Announcement is for information purposes only and does not constitute or form part of an offer to sell or issue or the solicitation of an offer to subscribe for or buy, any Placing Shares or any Option Shares in the United States or any other jurisdiction in which, such sale, offer or solicitation is unlawful. In particular, this Announcement is not for publication, release or distribution, in whole or in part, in or into the United States, Canada, Australia, South Africa or Japan.

This Announcement has been issued by Circle and is the sole responsibility of Circle. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Numis or by any of its respective affiliates or agents as to or in relation to the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Numis, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for the Company and for no-one else in connection with the contents of this Announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Numis, or for providing advice in relation to the contents of this Announcement or any matters referred to herein.