NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

22 November 2024

Duke Capital Limited

("Duke Capital", "Duke" or the "Company")

Result of Retail Offer and Broker Option

Further to its recent announcement regarding the Fundraising, the Company is pleased to announce that the Retail Offer, made available through the BookBuild Platform, has now closed and was significantly oversubscribed. As a result, in consideration of Duke's valued and supportive retail shareholder base, the Company has chosen to upscale the maximum size of the Retail Offer to £5.0 million to enable fuller allocation to Retail Investors. Given the over-subscription, allocation preference has been given to existing shareholders of the Company.

In addition, the Broker Option granted to Cavendish and Canaccord has received valid applications for 4,727,362 Broker Option Shares, representing additional gross proceeds of £1.3 million.

Accordingly, the Company can confirm that it has conditionally raised total gross proceeds of £23.5 million pursuant to the Fundraising, comprising the Placing, Subscription, Retail Offer and Broker Option.

Consequently, conditional on the passing of the Resolution at the Extraordinary General Meeting, the Company will issue 85,454,636 New shares comprising 56,836,367 Placing Shares, 4,727,362 Broker Option Shares, 5,709,089 Subscription Shares, and 18,181,818 Retail Offer Shares.

Admission and Total Voting Rights

Application will be made for the New Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 4 December 2024.

The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after their date of issue.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 509,815,773 with each Ordinary Share carrying the right to one vote. There are no shares held in treasury and therefore, following Admission, the total number of voting rights in the Company will be 509,815,773. The above figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure, Guidance and Transparency Rules.

Capitalised terms used in this announcement have the meaning given to them in the Placing and Retail Offer announcements dated 14 November 2024, unless otherwise defined in this announcement.

***ENDS***

For further information, please visit https://dukecapital.com/ or contact:

About Duke Capital

Duke is a leading provider of hybrid capital solutions for SME business owners in Europe and North America, combining the best features of both equity and debt.

Since 2017, Duke has provided unique long-term financing which eliminates re-financing risk and necessity for a short-term exit by providing a unique 'corporate mortgage' while also aligning its returns to grow with the success of the business.

Duke is focused on generating attractive risk-adjusted returns for shareholders and has a track record of achieving this across market cycles. It's three investment pillars are capital preservation, attractive dividend yield, and to provide upside upon exits.  Duke is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.