Uvenco UK : Equity subscription and Reward Loan

Final draft

24 November 2016

Uvenco UK plc

Equity subscription and Reward Loan

Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces that, further to the Company's announcement of 15 August 2016, certain directors and senior management of the Company have agreed to subscribe in aggregate for 1,666,667 new ordinary shares of 2p each in the Company ("Ordinary Shares") at 6p per share, to raise £100,000 ("Equity Subscription"). Directors' participations are as follows:

Director	New Ordinary Shares	Resultant shareholding	% of enlarged issued share capital
Jeremy Hamer	250,000	1,969,967	2.58%
Boris Belotserkovsky	916,667	2,533,067	3.31%
Michael Jackson	250,000	2,031,971	2.66%

As previously notified the Equity Subscription will enable the Company to draw down an additional £100,000 from the debt facility provided by Reward Invoice Finance Limited ("Reward"), taking the total facility to £1.3 million and which will be fully drawn.

The Company is also in the process of negotiating a cash loan of up to £200,000 from a company connected with Boris Belotserkovsky and Sergei Kornienko, directors of Uvenco. A further announcement will be made in due course.

Additionally, the Company notifies that 200,000 new Ordinary Shares are being issued at 6p per share to Michael Maltby, the Company's previous interim CFO, in lieu of remuneration for consultancy services previously provided to the Company.

Sergei Kornienko, CEO of Uvenco, stated: "The additional funding is a vote of confidence in the success of management's turnaround and will allow us to continue to restructure and drive the profitability of the business."

Concert Party shareholdings

Boris Belotserkovsky is a member of the Belotserkovsky Concert Party (as described in the Company's circular dated 10 October 2014). Following the Equity Subscription the holdings of the members of the Belotserkovsky Concert Party are set out below:

	Current shareholding		Resultant shareholding
Concert Party
B Belotserkovsky*	1,616,400	2.19%	2,533,067	3.31%
V Belotserkovsky	11,843,616	16.03%	11,843,616	15.49%
Unicum Limited	2,300,000	3.11%	2,300,000	3.01%
S Kornienko*	600,000	0.81%	600,000	0.78%
Versatel Limited	23,800,000	32.21%	23,800,000	31.13%
Oleg Chulkov	-	-	-	-
Gillian White	50,000	0.07%	50,000	0.07%
40,210,016	54.42%	41,076,683	53.79%
* Denotes a director of the Company

Total Voting Rights and admission of New Ordinary Shares to trading on AIM

Application will be made to the London Stock Exchange for 1,866,667 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that admission will become effective on 30 November 2015. Therefore, the total number of Ordinary Shares in issue following Admission will be 76,464,119 Ordinary Shares. The figure of 76,464,119 Ordinary Shares may be used by shareholders in the Company as the 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 share capital of the Company under the Disclosure Guidance and Transparency Rules.

Enquiries

Uvenco UK plc Tel No. 020 8879 8300

Sergei Kornienko

Peter Goodman

Stockdale Securities Tel No. 020 7601 6100

Tom Griffiths

Richard Johnson

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.