Convertible Loan Notes Repayment Date Extended

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("UK MAR"). In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained within this announcement, with the result that certain persons became aware of inside information (as defined under UK MAR). Upon the publication of this announcement via a Regulatory Information Service, those persons who/which received inside information in a market sounding are no longer in possession of such inside information, which is now considered to be in the public domain.

For immediate release

29 September 2023

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Extension of Final Repayment Date of Outstanding Convertible Loan Notes 2023 (now 2024)

The board of directors of BIH (the "BIH Board") announces that the 'Final Repayment Date' of all outstanding convertible loan notes issued by the Company, being:-

-      £30,000 nominal zero coupon convertible unsecured loan notes 2023 of the £125,714 nominal of such loan notes originally issued on 12 April 2021 (as subsequently varied);

-      £51,000 nominal zero coupon convertible unsecured loan notes (No. 2) 2023 of the £251,000 nominal of such loan notes originally issued on 7 July 2021 (as subsequently varied); and

-      £147,857 nominal zero coupon convertible unsecured loan notes (No. 3) 2023 originally issued on 27 April 2022;

has been extended (with the consent of the sole holder in each case) to 31 March 2024.

Related party transaction

The extension of the 'Final Repayment Date' of the £147,857 nominal zero coupon convertible unsecured loan notes (No. 3) which are held by Borden James (an existing Director of BIH) constitutes a 'related party transaction' for the purposes of the Listing Rules.  Christopher Pitman, Martin Lampshire and Richard Hartheimer, the three other Directors of BIH, consider that the terms of such 'related party transaction' are fair and reasonable insofar as the shareholders of BIH are concerned and accordingly have approved such extension. Borden James did not participate in the approval of, or vote on, such transaction.

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