Result of General Meeting

Further to the circular (the "Circular") and notice of general meeting (the "Notice") to shareholders published on 1 November 2023 by the Company, the Board of the Company announces that a special resolution to place the Company into members' voluntary liquidation, as set out in the Notice, was voted on by way of a poll and approved by the Company's Shareholders at the General Meeting held earlier today. Accordingly, Milan Vuceljic and Michael Solomons of Moorfields Advisory Limited, have been appointed as joint Liquidators of the Company.

The votes received for and against the resolution and the number of votes withheld were as follows:

The full text of the resolution can be found in the Notice contained in the Circular. The Circular is available for viewing on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.chelvertonam.com/

Suspension and Cancellation of Shares

The Shares were suspended from listing on the Official List of the Financial Conduct Authority and from trading on the London Stock Exchange at 10.30 a.m. this morning, 27 November 2023, in anticipation of the General Meeting.

Applications have been made to the Financial Conduct Authority and to the London Stock Exchange for the cancellation of the listing and admission to trading of the Shares with effect from 8.00 a.m. on 29 November 2023.

Initial Distribution

As set out in the Circular, the Liquidators expect to make an initial in specie distribution pro rata to Shareholders of the Company's shares in CEPS plc, the AIM listed industrial holding company in which the Company owns 5,460,301 shares. Once the liquidators have satisfied the claims of creditors of the Company and paid the costs and expenses of the liquidation, it is expected that the Liquidators will make one final cash distribution to Shareholders, currently expected to be approximately 5 pence per Share.