Result of AGM

PANTHEON INTERNATIONAL PARTICIPATIONS PLC

RESULT OF ANNUAL GENERAL MEETING HELD ON 25 NOVEMBER 2014

Annual General Meeting

Following the Annual General Meeting held today, the Company is pleased to
announce that all resolutions put to shareholders were passed on a show of
hands.

Resolutions 1-10 related to Ordinary Business. Resolutions 11-13 related to
Special Business as set out below:

Resolution 10: general authority to allot shares under Section 551 of the
Companies Act 2006.

Resolution 11: authority to allot securities otherwise than in accordance with
statutory pre-emption rights, under Section 570 of the Companies Act 2006.

Resolution 12: authority to make market purchases of shares under section 701
of the Companies Act 2006.

Resolution 13: authority to hold general meetings, other than Annual General
Meetings, on not less than 14 clear days' notice.

The proxy votes received on each resolution were as follows:

                            For        Against   At Chairman's     Withheld
                                                    discretion             
                                                                           
Resolution 1         15,304,968              0             448        2,521
                                                                           
Resolution 2         15,302,376            256             448        4,857
                                                                           
Resolution 3         15,302,509          1,914             448        3,066
                                                                           
Resolution 4         13,299,585      2,005,990             448        1,914
                                                                           
Resolution 5         13,330,850      1,956,287             448       20,352
                                                                           
Resolution 6         15,305,330            245             448        1,914
                                                                           
Resolution 7         12,937,289      2,362,093             448        8,107
                                                                           
Resolution 8         14,029,355         57,030             448    1,221,104
                                                                           
Resolution 9         15,305,468            107             448        1,914
                                                                           
Resolution 10        15,304,839            314             448        2,336
                                                                           
Resolution 11        14,543,807        761,346             448        2,336
                                                                           
Resolution 12        15,305,575              0             448        1,914
                                                                           
Resolution 13        15,037,914        267,661             448        1,914

A copy of the full text of Resolutions 10 to 13 will be submitted to the
National Storage Mechanism and will shortly be available for viewing at
http://www.morningstar.co.uk/uk/nsm

25 November 2014