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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

22 November 2022

Kistos plc

Notice of General Meeting and Scheme of Arrangement

The board of directors of Kistos plc ("Kistos" or "Company" or, together with its subsidiary or subsidiary undertakings, the "Group"; the "Board") (AIM: KIST) announces that a court meeting ("Court Meeting") will be held on 14 December 2022 at 10.30 a.m. and a general meeting ("GM") of the Company shall occur thereafter at 10.50 a.m. on 14 December 2022.

The Board further announces it is pursuing a scheme of arrangement under Part 26 of the Companies Act 2006, as amended (the "Scheme") following which the Group will interpose and maintain a new non-operational entity, Kistos Holdings plc, which will become the holding company of, and the provider of working capital to, the Group.

A circular in relation to the Scheme containing notices of Court Meeting and GM (the "Meetings") and associated forms of proxy (the "Circular"). Copies of the Circular will today be sent to the shareholders of the Company ("Shareholders") and will be available for inspection on the Kistos website: https://kistosplc.com/investors/circulars/. 

The Board views the Scheme as the most effective and appropriate way to structure the Group and, ultimately, to restructure the Group's debt facilities on a more efficient basis. The rights of Shareholders will remain unchanged following the Scheme and Shareholders will be able to trade their holdings in Kistos Holdings plc Ordinary Shares as they were able to do in relation to Kistos plc Ordinary Shares.

As set out in the Circular, the following is the expected timetable of principal events:

All voting on the resolutions at the Meetings will be conducted on a poll, which means that Shareholders should submit their forms of proxy as soon as possible. To be valid, the forms of proxy must be lodged with the Company's registrar, LINK Group, PSX-1, Central Square, 29 Wellington Street, Leeds LS1 6DN, United Kingdom, so as to arrive by no later than 10.30 a.m. on 12 December 2022.

Full details of the operation and arrangements of the Meetings are set out in the notices of the Meetings found in the Circular.

This announcement contains inside information for the purposes of UK MAR. The person responsible for this announcement is Andrew Austin, Executive Chairman.

Enquiries: