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ScotGems Plc - Company Update

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ScotGems PLC

LEI Number: 549300GQHCPU9P1NYM13

13 July 2022

Company update

On 1 July 2022, the Board of ScotGems PLC (the "Company") announced that it had decided to put forward formal proposals to shareholders for a members' voluntary liquidation of the Company. Such proposals, if approved, will provide all shareholders with a full cash exit less costs.

As set out in the announcement of 1 July 2022, the Board has instructed the Company’s investment manager to realise the Company's investment portfolio in an orderly manner.

To date the investment manager has realised approximately 67% of the Company’s portfolio, with the proceeds of these sales being held in Sterling. The timing of the realisation of the remainder of the Company’s portfolio will be dependent upon prevailing market conditions.

Enquiries:

Juniper Partners Limited (Secretary) 0131 378 0500

Douglas Armstrong

Dickson Minto (Sponsor) 020 7649 6823

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