We have just received a letter of notification from one of our overseas
"Pentridge Holdings Private Limited - No.23 Nominee Account"
which states that "the shareholding in this account has increased by 879,929 shares
to a total of 2,196,184 Cherwell Capital "B" ordinary shares which represents 16.8%
(sixteen point eight %) of Cherwell's issued equity".
Cherwell Capital plc - Company Secretary