Warrant Exercise

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Macaulay Capital PLC

1 April 2026  

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Exercise of warrants

Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces the exercise of warrants.

Harry and Tom Horner (the adult sons of David Horner) have each exercised their remaining 450,000 Unconditional Founder Warrants, at a price of £0.25 per share, raising £225,000 for the Company. 

The Company has applied for admission of the new ordinary shares, which is expected to become effective on 2 April 2026 ("Admission").

Following the exercise of the Unconditional Founder Warrants and allotment of 900,000 new ordinary shares in the Company to Harry and Tom Horner, each of them holds 4,000,000 ordinary shares in the Company, being 25.0% of the issued share capital at Admission.  In addition, the Horner family now holds 8,550,000 shares, being 53.4% of the issued share capital of the Company at Admission.

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that at Admission, the Company's enlarged share capital will comprise 16,000,000 ordinary shares.  The Company does not hold any shares in Treasury.  Therefore, following Admission the above figure may be used by shareholders in the Company as the denominator for the calculation to determine if they are required to notify their interest, or a change in their interest to the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

ENDS 

Enquiries:

For more information please visit: www.macaulaycapital.com