Trident Estates Plc — Share Issue/Capital Change 2019

Oct 7, 2019

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Trident Estates p.l.c. (the "Company") pursuant to Listing Rule 5.16.11 of the Listing Rules as issued by the Listing Authority in accordance with the provisions of the Financial Markets Act (Chapter 345 of the Laws of Malta) as they may be amended from time to time.

2 for 5 Rights Issue by the Company of approximately €15,000,000 worth of new ordinary shares (the "Rights Issue")

Quote

Reference is made to the announcement made by the Company on the 27 September 2019 in which it was stated that an application for admissibility to listing to the Listing Authority had been made, requesting approval of a prospectus (the "Prospectus") in relation to the Rights Issue.

The Company announces that today it has been granted approval by the Listing Authority for the admissibility to listing on the Official List of the Malta Stock Exchange of up to 12,000,003 new ordinary shares in the Company having a nominal value of €1 each which will be offered, as a result of the Rights Issue, to the shareholders on the register of the Company at the Central Securities Depository of the Malta Stock Exchange as at the close of business on 4 October 2019 (the "Record Date"). Shareholders shall be entitled to subscribe to two (2) new ordinary shares for every five (5) ordinary shares (or parts thereof, subject to rounding) held as at the close of business on 4 October 2019 at a Rights Issue price of €1.25 per share.

Any lapsed rights will be offered to (i) the Company's shareholders who would have accepted their proportionate entitlement in full and applied for lapsed rights and (ii) the general public through an intermediaries' offer, in this order of preference.

The Company's three major shareholders have undertaken to subscribe to their proportionate entitlement of the Rights Issue. If subscribed to in full, the Rights Issue will raise gross proceeds of approximately €15,000,000.

Full details of the Rights Issue are included in the Prospectus dated 7 October 2019 which will be made available on the Company's website athttps://tridentestatesplc.com/rights-issue-2019 as from 9 October 2019. A printed copy of the Prospectus may be obtained either from the registered office of the Company or from authorised Collecting Agents as from 14 October 2019. Unquote

Kenneth C. Pullicino Company Secretary

7 October 2019