DCI Advisors Ltd

(the "Company" or "DCI")

Shareholder Loans and a Related Party Transaction

14 September 2023

Shareholder Loans

The Board of the Company has entered into two further loan agreements with a DCI shareholder to provide additional working capital to the Company.  When combined with the shareholder loans announced previously, all of the Shareholder Loans are expected to total up to €2.0 million in aggregate (the "Shareholder Loans" or "Shareholder Loan Agreements").  The four previous loans amounted to €350,000 each and these new loans are from two investment funds managed by the same fund manager and are for US$330,000 in total.  All of the Shareholder Loans have identical terms to one another (other than their date of initiation and currency of denomination) and are for a 12-month term bearing an interest rate of 12 per cent. p.a., with no fees payable on disbursement or repayment. The Company's intention is to repay the Shareholder Loans from the proceeds of the sale of Company assets.  If the Shareholder Loans have not been repaid by 30 September 2023, collateral in the form of security over certain Company assets will be put in place which would exceed the aggregate value of the loans.

The two new Shareholder Loan Agreements have been entered into with funds managed by Almitas Capital LLC ("Almitas") which controls 11.1% of the issued share capital of the Company. Accordingly, the entering into of the Shareholder Loan Agreements with Almitas are deemed to be related party transactions pursuant to AIM Rule 13 of the AIM Rule for Companies.  The Company's directors consider, having consulted with the Company's Nominated Adviser, Cavendish Capital Markets Limited, that the terms of the Almitas Shareholder Loan Agreements are fair and reasonable insofar as the shareholders are concerned.

Change of Name of Broker

The Company also announces that its Nominated Advisor and Sole Broker has changed its name to Cavendish Capital Markets Limited following completion of its own corporate merger.

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