Plutus PowerGen : Requisition of General Meeting

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR').

21 November 2019

PLUTUS POWERGEN PLC

('Plutus', the 'Group' or the 'Company')

Requisition of General Meeting

Further to the announcements released by the Company on 19 November 2019 and 13 November 2019, the Board of Plutus announces that it yesterday received a letter from JIM Nominees Limited ('JIM'), regarding a requisition to require the directors of Plutus to call a general meeting of the Company's shareholders, in accordance with section 303 of the Companies Act 2006 (the 'Act'). JIM is a member of the Company and a holder of in excess of 5% of the Company's current issued share capital.

The requisition proposes that shareholders be asked to consider ordinary resolutions to remove all the current directors from the Board (being Charles Tatnall, James Longley and Tim Cottier) and to appoint Nicholas Lee, David Horner and Dr Nigel Burton to the board of the Company.

After consultation with its legal advisers, the Company has determined that the requisitioners' letter is valid. In accordance with the Act, the Company is required to call a general meeting within 21 days of receipt of the requisition and to provide for the general meeting to be held not more than 28 days after the date of the notice of such meeting.

A statement (the 'Requisitioners' Statement') accompanied the requisitioners' letter, which the requisitioners require the Company to circulate to those members receiving notice of the requisitioned general meeting, in accordance with section 314 of the Act. The Board will comply with the relevant statutory requirements in respect of the circulation of the Requisitioners' Statement.

Shareholders are advised to take no action at this time.

Further announcements will be made in due course.

**ENDS**

For further information, please visit www.plutuspowergen.com, or contact:

Plutus PowerGen Plc	[phone]
Charles Tatnall, Executive Chairman
Allenby Capital Limited (Nominated Adviser and Joint Broker)	[phone]
Nick Athanas James Hornigold
Turner Pope Investments (TPI) Limited (Joint Broker)	[phone]
Andy Thacker
St Brides Partners Limited (Financial PR)	[phone]
Isabel de Salis