Scheme of arrangement

MXC CAPITAL PLC

("MXC" or the "Company")

Proposed Re-domicile of the Group to Guernsey

Court Confirmation of Reduction of Capital and Completion of Acquisition

MXC is pleased to announce that the Reduction of Capital was earlier today approved by the Court at the Reduction Court Hearing. 

The Court Orders and the statement of capital have been delivered to the Registrar of Companies today and, accordingly, the Scheme has become effective in accordance with its terms and New MXC is now the holding company of MXC.

Further, the cancellation of the Company's share premium account has also become effective today and MXC has been re-registered as a private limited company.

The New MXC Shares to which Scheme Shareholders will become entitled under the Scheme are, in the case of New MXC Shares to be held in uncertificated form, expected to be credited to CREST accounts on 6 February 2015. Share certificates in respect of New MXC Shares to be held in certificated form are expected to be despatched by 20 February 2015. The ticker for New MXC will remain unchanged (AIM:MXCP) and, applicable upon Admission, its new ISIN will be GG00BSBMMK42.

The New MXC Shares will be admitted to trading on AIM with effect from 8.00 a.m. on 6 February 2015.

General

Note that capitalised terms used in this announcement, but not defined, have the same meaning as in the Scheme Document.

Enquiries to:

MXC Capital plc

Marc Young

+44 (0)20 7965 8149

Zeus Capital Limited (Nominated adviser and broker)

John Depasquale/John Treacy

+44 (0)20 7533 7727

Zeus Capital, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Old MXC and, following completion of the Scheme Proposal, New MXC, and no one else in connection with the Scheme Proposal and will not be responsible to any other person for providing the protections afforded to clients of Zeus Capital nor for providing advice in relation to the matters referred to in this announcement.. Neither Zeus Capital nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Zeus Capital in connection with the matters referred to in this announcement, any statement contained herein or otherwise.

This announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.