Avarae Global Coins : Result of tender offer

AVARAE GLOBAL COINS PLC

The Company today announces the result of the Tender Offer set out in the shareholder circular published by the Company on 19 September 2016 (the "Circular"). The Tender Offer closed at 11.00 a.m. on 20 October 2016.

Result of Tender Offer

Under the Tender Offer, 9,027,441 Ordinary Shares were validly tendered and 9,027,441 Ordinary Shares will be purchased at a price per Ordinary Share of 11.5 pence, for an aggregate purchase price of £1,038,155.68. The Ordinary Shares to be purchased under the Tender Offer represent approximately 11.17 per cent. of the Company's issued ordinary share capital.

It is anticipated that the proceeds payable under the Tender Offer to the Company's shareholders who hold their Ordinary Shares in certificated form will be despatched no later than 1 November 2016 in the form of a cheque. Those shareholders who hold their Ordinary Shares in uncertificated form will have their CREST accounts credited no later than 1 November 2016.

As set out in the Circular, the Ordinary Shares will be purchased by WH Ireland pursuant to the Tender Offer and the Company will purchase such Ordinary Shares from WH Ireland under the terms of the Repurchase Agreement described in the Circular. The Company intends to cancel the Ordinary Shares purchased by it under the Repurchase Agreement, reducing the number of Ordinary Shares in issue from 80,783,334 Ordinary Shares to 71,755,893 Ordinary Shares.

As previously announced, cancellation of the admission of the Company's ordinary shares to trading on AIM is expected to occur at 7.00am on 25 October 2016.

2016