The directors of Antisoma plc (the "Company") (the "Directors") expect the Company to be classified as an investing company upon the Admission of its ordinary shares to AIM. In anticipation of this, the shareholders of the Company approved a formal investing policy at a general meeting on 7 December 2011. Details of the investing policy are set out below:

The Directors intend to identify investment opportunities offering the potential to deliver a favourable return to the Company's shareholders over the medium term, primarily in the form of a capital gain. A particular consideration will be to identify businesses which, in the opinion of the Directors, are under-performing and present opportunities for value creation. The Company's equity interest in a potential investment may range from a minority position to 100 per cent. ownership and the interest may be either quoted or unquoted.

The Directors intend to be active investors and to assist in the strategic development and growth of significant acquisitions and/or investments made by the Company. The acquisitions or investments may be funded from existing cash resources, by the issue of new ordinary shares or with debt, or a combination thereof, as the Directors deem appropriate.

It is anticipated that returns to shareholders will be delivered principally through capital growth rather than capital distributions via dividends, although it may become appropriate to distribute funds to shareholders once the Company's investments mature.

The Directors are at an early stage of screening potential opportunities but have not, at this stage, commissioned any due diligence nor entered into any firm commitment in connection with any acquisitions or investments. Initial due diligence will be carried out by the Directors who may subsequently commission third party due diligence as appropriate.

Listing exchange: AIM

Expected first day of trading: 2012-01-11

Expected money raised: Nil