ODYSSEAN INVESTMENT TRUST PLC

M&A Activity • Dec 23, 2021

National Storage Mechanism | Additional information

RNS Number : 5574W

Odyssean Investment Trust PLC

23 December 2021

LEI: 213800RWVAQJKXYHSZ74

23 December 2021

ODYSSEAN INVESTMENT TRUST PLC

Proposal to Strategic Equity Capital plc

The Board of Odyssean Investment Trust plc ("OIT") announces that it has made a proposal to the Board of Strategic Equity Capital plc ("SEC") regarding a combination of SEC and OIT to be effected by way of a section 110 scheme of reconstruction by SEC and a transfer of assets to OIT (the "Transaction"). The combined entity would be managed by Odyssean Capital LLP under the existing OIT investment strategy.

OIT has received letters of intent supporting the Transaction from SEC shareholders representing 32.9 per cent. of the issued share capital of SEC.

The Board believes the combination of OIT and SEC presents a unique opportunity to create a leading investment trust differentiated from the wider UK small cap sector. The combined entity would have a long-term supportive shareholder base, strong shareholder liquidity and discount control mechanisms, a premium rating and greater scale, and this would be of long-term benefit for both sets of shareholders.

The discussions between OIT and SEC are at an early stage and accordingly there can be no certainty that terms of the Transaction can be agreed. A further announcement will be made in due course.

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

For further information, please contact:

Odyssean Investment Trust plc Jane Tufnell (Chair)	via Lansons
Winterflood Securities Limited Neil Langford Hande Derinkok	+44 (0)20 3100 0000 neil.langford@winterflood.com hande.derinkok@winterflood.com
Frostrow Capital LLP (Company Secretary) Kerstin Rucht	+44 (0)20 3709 8732
Lansons David Masters	+44 (0)7825 427 514 davidm@lansons.com

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