Results of Firm Placing and Open Offer

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE FIRM PLACING AND OPEN OFFER OR OTHERWISE.

THE SECURITIES THAT ARE THE SUBJECT OF THE FIRM PLACING AND OPEN OFFER MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION. NO PUBLIC OFFERING OF THE SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES AND THE COMPANY DOES NOT CURRENTLY INTEND TO REGISTER ANY SECURITIES UNDER THE SECURITIES ACT. THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES.

FOR IMMEDIATE RELEASE

4 OCTOBER 2012

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

RESULTS OF FIRM PLACING AND OPEN OFFER

On 13 September 2012, Redefine International announced details of a proposed Firm Placing and Open Offer to raise £127,500,000 (£122,475,000 net of expenses) through the issue of 490,384,616 New Ordinary Shares at an Issue Price of 26 pence per New Ordinary Share. The Open Offer closed for acceptances at 11.00 am on 3 October 2012.

Redefine International is pleased to announce that it has received valid applications under the Open Offer in respect of 386,517,950 New Ordinary Shares from Qualifying Shareholders. This represents a take-up of approximately 96.35% of the 401,161,010 Open Offer Shares offered pursuant to the Open Offer. The remaining 14,643,060 Open Offer Shares, representing approximately 3.65% of the 401,161,010 Open Offer Shares, have been allocated to the institutional and other investors with whom they had been conditionally placed by Redefine International Investment Fund Management Limited, Peel Hunt and Investec. In addition, 89,223,606 Firm Placed Shares have been placed with certain institutional and other investors pursuant to the terms of the Firm Placing. As a consequence the Company has conditionally raised, through its Firm Placing and Open Offer, gross proceeds of £127,500,000.

The Firm Placing and Open Offer remain conditional upon the approval of Shareholders at the Extraordinary General Meeting to be held at Top Floor, 14 Athol Street, Douglas, Isle of Man IM1 1JA at 9.30 a.m. on 8 October 2012 ("EGM"), upon the Placing Agreement becoming unconditional in all respects and upon Admission. 

Admission of the New Ordinary Shares to the Premium Segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities, for which application has been made, is expected to occur at 8:00 a.m. on 9 October 2012, subject to the passing of the Resolutions at the EGM. These New Ordinary Shares will not be eligible for the second interim dividend, as announced on 20 September 2012, but will rank pari passu in all other respects with the existing ordinary shares as at the date of issue.

Commenting, Greg Clarke, Chairman of Redefine International, said:

"We are pleased that our Firm Placing and Open Offer has received such strong support from both our existing shareholders and a number of new institutional investors, as a result of which we have raised a total of £127.5 million, substantially more than our initial target of £100 million. The Company is now in a strong position to accelerate the further reduction of its leverage, and provide capital to take advantage of attractive opportunities which offer the potential for capital and income enhancement. We look forward with confidence to the next phase of the Company's growth, in which our primary purpose will be to deliver consistent income returns and create long term value for our shareholders."

Following admission of the New Ordinary Shares the total number of voting rights in the Company will be 1,069,839,408. The figure of 1,069,839,408 Ordinary Shares 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 in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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This announcement should be read in conjunction with the full text of the Prospectus published on 13 September 2012 available on the Company's website at www.redefineinternational.com. Defined terms used in the Prospectus shall have the same meanings when used in this announcement unless the context otherwise requires.