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Further to the announcement on 14 June 2021 that the Company was considering the issue of new ordinary shares, today the Company is pleased to announce a proposed issue of ordinary shares in the Company (“Ordinary Shares”) to raise gross proceeds of £40 million (the “Initial Issue”) as part of an ongoing share issuance programme (the “Share Issuance Programme”), the details of which will be set out in the Prospectus expected to be published by the Company later today.