Director shareholding

The Company was informed on 21 May 2008 that on 26 November 2007, Gerard Sauer, the chief executive of the Company, transferred 70,000 ordinary shares of 0.1 pence each (of his then holding of 1,600,000) in the Company (“Ordinary Shares”) to an employee of the Company for nil consideration.

Following this transfer, Mr Sauer’s holding both before and after the placing of new ordinary shares announced on 21 May 2008 is as follows:

Holding before share issue: 1,530,000 % of total: 1.74%

Holding after share issue: 1,757,272 % of total: 1.38%