Result of EGM

4 October 2018

Tau Capital plc

("Tau" or the "Company")

Result of Extraordinary General Meeting

Further to the Company's announcement made on 17 September 2018, Tau announces that at the Company's Extraordinary General Meeting, held earlier today, the single resolution proposed (the "Resolution") was duly passed.

Accordingly, following its approval by shareholders, the Company has adopted the amended Investing Policy, as described in the Company's circular to shareholders dated 17 September 2018 (the "Circular").

The main additional conditions precedent to the disposal of the Company's indirect interest in Stopharm LLP (the "Disposal") have been satisfied, save for the receipt by Tau of the consideration for the Disposal. Accordingly, the Board anticipates that the Disposal should complete on or before the long stop date of 31 October 2018.

Further announcements in respect of the completion of the Disposal will be made in due course.

On completion of the Disposal, the Company will no longer be classified as an investing company and will be classified as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 on or before the date falling six months from completion of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.

Further details in respect of the Disposal, the amendments to the Company's Investing Policy and other matters described above, can be found in the Circular.

The results of voting on the Resolution were as follows:

*Includes discretionary votes.

**A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any of the resolutions.

The Company has 48,984,680 Ordinary Shares in issue, each with one voting right. There are no treasury shares in the Company.

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