Trading Update and Further re. Suspension

Tricor plc

("Tricor" or the "Company")

Trading update and further re. suspension

Tricor, the investment company focussed on the resources sector with investments in iron sand and sand trading operations in the Philippines, today provides an update on its investments and financial position as the Company continues to progress completion of its audited report and accounts for the year ended 31 March 2014. The Singapore auditors of Tricor's investee companies, TEPL, TM and TRT (all as defined below), have completed and signed their respective audited accounts reports and are now subject to review by Tricor's auditors. Tricor currently expects its audited accounts to be completed next week. Following that, Tricor shall apply for the suspension of trading in its ordinary shares on AIM to be lifted.

Tricor Environmental Pte Ltd ("TEPL")

Following the investment made by the Company in TEPL in March 2013, encouraging progress was made to its sand business. The TEPL business is a start up and a lot of expenses were incurred in building infrastructure on the site throughout last year, section by section, including building a jetty, roads and other infrastructure, so that revenue generating activities could take place. The acquisition of its Bangan site (please see announcement of 16 September 2013) and its development also required working capital and thereby further stretched TEPL's financial resources. Sand sales commenced slowly in March 2013 and picked up in April and May 2013. The monsoon season between July and October 2013 resulted in negligible operations during that period. Although operations recommenced in November 2013, much time and effort were spent on repairing the jetty and the site; hence revenue operating activities could only start from December 2013 onwards. These ceased again at the start of this year's monsoon season, in June 2014. Since December 2013, TEPL has sold 2,373,978 metric tons of sand. Operations will re-commence at the end of the monsoon season, which is expected by the end of October.

Given that most of the cost of the infrastructure has now been incurred, the management of TEPL aims to reduce as much cost as it can whilst trying to generate increased revenue in the future.

Tricor Minerals Pte Ltd ("TM")

TM had difficulty building an iron sand plant which is suitable for its site conditions. The initial tests at the completed plant showed that the plant could only produce negligible amounts of iron sand and certainly far below TM's expectations. The management reports that it is still trying to implement proposed changes to the design of the plant. At this time, TM do not know when they can successfully complete an iron sand production plant.

Contemporaneously, TEPL is helping the management of TM to apply for the necessary permits to operate the plant once a plant capable of producing iron sand is completed.

As announced on 29 May 2013, KGGD Pte Ltd has agreed to provide TM with financing.

Tricor Resources Trading Pte Ltd ("TRT")

TRT was set up to be a resources trading company and is expected to commence business once TM starts producing iron sand.

Other investments and financial position

The Company continues to look at and evaluate investments which may fall within its investing policy. Any investment is subject to the Company having investment capital available to it whilst maintaining sufficient working capital. The Company has limited cash resources at the present time and will continue to do so until such time that TEPL is able to recommence revenue generating operations at the end of monsoon season and returns are forthcoming to Tricor. As such returns are not expected for over two months, the board of Tricor has been controlling costs and has been in advanced discussions with potential investors to raise funds for the Company and ensure further working capital is available as soon as possible. In addition, the directors of the Company are exploring restructuring TEPL's business with its partners to improve cashflow for Tricor.

Further announcements will be made as appropriate.

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