Bailiwick Investment Ltd would seek shareholder approval for a share repurchase program at its Annual General Meeting to be held on March 7, 2013. Under the program, the company will repurchase up to 14.99% of the company's issued share capital. The company will pay a minimum price of £0.01 and maximum price shall not be higher than 10% above the average of the mid-market values of the shares for the 5 business days prior to the date the purchase is made.

The purchase price may be paid by the company to the fullest extent permitted by the Law. The program will expire at the earlier of the conclusion of the company's next Annual General Meeting or 18 months from the date of this resolution.