Oracle Power Regulatory News (ORCP)

20 December 2019



Oracle Power PLC

("Oracle", the "Company" or the "Group")

Result of General Meeting

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan, is pleased to announce that, at the General Meeting of the Company held earlier today, all resolutions were duly passed by Shareholders.

Following approval of, inter alia, the Conditional Placing by Shareholders, application has been made to the London Stock Exchange for the admission of the Conditional Placing Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 23 December 2019.

On Admission, the Company will have 1,739,468,634 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,739,468,634 can be used by shareholders 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 Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Company is pleased to confirm that, on Admission, the private office of His Highness Sheikh Ahmed Bin Dalmook Al Maktoum, will be interested in 200,000,000 Ordinary Shares, representing approximately 11.5 per cent. of the Company's then issued share capital.

The Conditional Placing included subscriptions of £40,000 by the Company's CEO, Naheed Memon, and £10,000 by the Company's Chairman, Mark Steed. On Admission, Ms Memon and Mr Steed will be in interested in 16,000,000 Ordinary Shares and 18,100,000 respectively, representing 0.92 per cent. and 1.04 per cent. of the Company's then issued share capital.

Please refer to the Company's circular dated 4 December 2019 (the "Circular") for further information.

Definitions used in this announcement have the same meaning as ascribed to them in the Circular, unless the context requires otherwise.

For further information please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.