The Company was informed on 5 November 2009 that Dr. Richard Stabbins, a Non-executive Director of the Company, has transferred part of his shareholding of 4,474,272 ordinary shares of 1 pence each ("Ordinary Shares") representing 0.06 per cent. of the issued share capital of the Company, from Panther Energy Limited to its holding company Montrose Industries Limited, in which Dr. Stabbins has an 84.4% interest. For the avoidance of doubt, following this transfer there is no change in Dr. Stabbins' beneficial interest in the issued share capital of the Company.