Cape : Board changes

FOR IMMEDIATE RELEASE

8 September 2017

RECOMMENDED CASH OFFER

for

CAPE PLC

by

ALTRAD UK LIMITED, a wholly-owned subsidiary of
ALTRAD INVESTMENT AUTHORITY SAS

Board changes

Introduction

On 8 September 2017, Altrad Investment Authority SAS ("Altrad") announced that the recommended cash offer by its wholly-owned subsidiary, Altrad UK Limited ("Altrad Bidco"), under which Altrad Bidco would acquire the entire issued and to be issued share capital of Cape plc ("Cape") (which does not include the IDC Scheme Share)(the "Offer") had become unconditional in all respects. The full terms and conditions and the procedures for acceptance of the Offer are set out in the offer document which was published and sent to Cape shareholders by Altrad Bidco on 1 August 2017 (the "Offer Document").

Altrad Bidco also announced that at 1.00 p.m. (London time) on 7 September 2017, Altrad Bidco had received valid acceptances of the Offer in respect of 94,260,823 Cape Shares, representing approximately 77.83 per cent. of the existing issued share capital of Cape.

Defined terms used but not defined in this announcement have the same meanings as given to them in the Offer Document.

Board changes

Cape announces changes to the composition of its board as a result of the successful recommended cash offer by Altrad Bidco.

Tim Eggar, Michael Merton, Steve Good, Brian Larcombe and Mary Reilly have resigned as directors of Cape, in each case with effect from 8 September 2017.

Mohamed Altrad and Louis Huetz were appointed as new directors of Cape with effect from 8 September 2017. There is no information that requires disclosure under paragraphs 9.6.13R(1) to (6) of the Listing Rules in respect of the new directors of Cape.

Enquiries