Arbuthnot Banking Group plc

The company raised c. £4mlion of capital, by way of the Placing and Offers, which comprised of:

(1) a placing of £2.1mlion in new ordinary shares with Flowidea, a company beneficially owned by Mr Henry Angest, the Chairman of Arbuthnot Banking Group;

(2) a placing of £1.1mlion in new ordinary shares with Cherrydene, a company also beneficially owned by Mr Angest;

(3) £0.4mlion to Qualifying Eligible Shareholders by way of the First Offer; and

(4) £0.4mlion to Qualifying Institutional Shareholders by way of the Second Offer.

The capital raised will be used to fund the development of Arbuthnot's offshore banking operations.

Henry Angest, the Chairman and CEO, held 49 per cent. of the issued share capital prior to the Placing and Offers. He underwrote the issue, which resulted in his shareholding going over 50% upon completion. The fund raising was therefore subject to a Rule 9 whitewash.

Canaccord Genuity acted as NOMAD to Arbuthnot Banking Group plc.