Update Re Metal Tiger

BMR Group PLC ("BMR" or the "Company")

Re Metal Tiger plc

The Board of BMR confirms that, further to the announcements of 25 November 2016 and 28 November 2016, it has formally withdrawn its indicative offer and will not make an offer for Metal Tiger plc.

This statement is a statement to which Rule 2.8 of the City Code on Takeovers and Mergers applies.

For further information:

BMR Group PLC

Tony Gardner-Hillman, Independent Non-Executive Director 01534 486980

Jeremy Hawke, Independent Director 020 7734 7282

WH Ireland Limited 020 7220 1666

NOMAD and Joint Broker

Chris Fielding, Head of Corporate Finance

Katy Mitchell, Director

Nick Prowting, Manager

Peterhouse Corporate Finance 020 7469 0930

Joint Broker

Lucy Williams/ Duncan Vasey/ Heena Karani

WH Ireland Limited, which is regulated in the United Kingdom by The Financial Conduct Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of WH Ireland Limited or for providing advice in relation to the matters described in this announcement.

The directors of BMR accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.

This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.