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Broker Option Update

6 March, 2017

Further to the announcement on 28 February 2017 that it has conditionally raised gross proceeds of approximately £16.9 million through the Placing, R&Q is pleased to announce that it has conditionally raised additional gross proceeds of approximately £1.0 million via the Broker Option. An additional 854,700 new ordinary shares have been placed by Numis Securities Limited at a price of 117 pence per share. The Board is pleased to confirm that there was significant demand via the Broker Option and that the book was over-subscribed.

As such, a total of 15,278,291 new ordinary shares have been placed via the Placing and Broker Option, raising gross proceeds for the Company of £17.9 million, conditional upon the passing of the requisite shareholder resolutions at the General Meeting on 27 March 2017. Application will be made for the Placing and Broker Option Shares to be admitted to trading on AIM. Admission and dealings in the new shares is expected to take place at 8.00 a.m. on 28 March 2017.

Defined terms used in this announcement bear the same meaning as those used in the announcement dated 28 February 2017.

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Broker Option Update

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