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For Immediate Release

28 July 2023

Adalan Ventures Plc

("Adalan" or the "Company")

Completion of share consolidation

Adalan Ventures plc (the 'Company' or 'Adalan'), is pleased to announce the completion of the Company's Share Consolidation (as defined below) with a record date of 5:30pm BST on 27 July 2023. This is following the Company's announcement on 24 July 2023 that shareholder approval was granted at the Company's General Meeting for a consolidation of the ordinary shares of the Company on the basis of 1 new share for every 10 existing shares (the "Share Consolidation").

Following the completion of the Share Consolidation the reduced number of ordinary shares of £0.01 each ("Ordinary Shares") will replace the Company's securities that were previously admitted to the Standard Segment of the Official List, and trading on the London Stock Exchange's Main Market ("Admission"), however, from Admission these Ordinary Shares will be suspended from the Official List and trading on the Main Market pending publication of the Company's annual results, which are expected to be published imminently.  Admission became effective at 8:00am BST on 28 July 2023.

The ISIN for the New Ordinary Shares is GB00BMXTZ463  

As a result of the Share Consolidation, the Company hereby notifies the market that the Company's issued share capital as at 28 July 2023 consisted of 46,197,500  ordinary shares of £0.01 each. The total number of voting rights in the Company as at 28 July 2023 was 46,197,500 shares.

The above figure may be used by shareholders and others with notification obligations as their denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules of Financial Conduct Authority.

Further information can be found at the corporate website:  https://adalanventures.com/

Enquiries:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").