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Subscription and Other Matters

Angelfish Investments plc (the “Company”)

Subscription and Other Matters

SUBSCRIPTION AND DEBT CAPITALISATION

Further to the Company’s circular dated 13 April 2012 and the announcement made on 30 April 2012, the Company announces that creditors amounting to an aggregate value of GBP 251,634 have today been issued with 30,353,920 new ordinary shares of 0.01p (“New Ordinary Shares”) at an issue price of 0.829p per share in full and final settlement of all amounts outstanding to them (the “Debt Capitalisation”).

St Gallen Capital Limited has also today subscribed for 217,561,762 New Ordinary Shares at 0.023p per share, to raise approximately GBP 50,000 as additional working capital for the Company (the “Subscription”).

Following the Debt Capitalisation and the Subscription, the Company will have a total of 290,082,349 ordinary shares in issue. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the FSA’s Disclosure and Transparency Rules. The Company’s total issued ordinary share capital is now GBP GBP29,008.23.

3,944,511 New Ordinary Shares have today been issued to Andrew Flitcroft as part of the Debt Capitalisation, at an issue price of 0.829p per share. As Mr Flitcroft is a Director of the Company, the issue of New Ordinary Shares as part of the Debt Capitalisation constitutes a related party transaction. As a result of the issue of the aforementioned 3,944,511 New Ordinary Shares, Mr Flitcroft now beneficially holds a total of 4,077,844 ordinary shares (representing 4,077,844 voting rights), representing 1.41% of the voting rights in the enlarged issued ordinary share capital of the Company.

As a result of the Subscription, St Gallen Capital Limited now beneficially holds a total of 217,561,762 ordinary shares (representing 217,561,762 voting rights), which represents 75.00% of the voting rights in the enlarged issued ordinary share capital of the Company).

STATEMENT REGARDING PLUS MARKETS GROUP PLC:

The board of the Company (the “Board”) has noted the announcement made by PLUS Markets Group plc on 14 May 2012 regarding its intentions to commence a process of orderly closure of the PLUS-quoted market over a period of up to six months.

The Board is mindful of the benefits of maintaining a stock market quotation and is consulting with its PLUS Corporate Adviser and Broker, SVS Securities Plc, in relation to the Company’s options.

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.

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