Update on Disposal of Investment

This announcement contains inside information

4 October 2018

Kubera Cross-Border Fund Limited

Update on Disposal of Investment

Kubera Cross-Border Fund Limited (the Company) announces that further to the terms of a Share Purchase Agreement dated 17 March 2017 as announced on 20 March 2017, and the subsequent announcement made on 31 July 2018, the Long Stop Date for the disposal of the entire equity stake held in Planetcast Media Services Limited that was extended to 30 September 2018, has now expired.

Whilst the outstanding ministerial approvals have not yet been obtained, all parties involved remain engaged to secure approval for a transaction and there are several alternative paths if a transaction is not consummated. At this time the Company remains entirely focused on closing the current transaction as soon as practicable.

A further update will be made in due course.

For more information contact:

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett/ Jamie Barklem

Tel.: +44 (0) 20 7383 5100

Email: [email protected]

Numis Securities Limited (Broker)

David Benda, Managing Director

Tel.: +44 (0) 20 7260 1275

Email: [email protected]

FIM Capital Limited (Administrator, Registrar & Secretary)

Philip Scales, Director

Tel.: +44 (0) 1624 681250

Email: [email protected]