Market Update

24 September 2019

RNS Number : 4697N

Pires Investments PLC

Pires Investments PLC (“Pires” or the “Company”)

The Company reports that, as at 20 September 2019, its unaudited net asset value was approximately £2.78 million or 4.2 pence per share. This compares to £2.36 million as at 30 April 2018 and represents an uplift of approximately 18%. This is principally as a result of the share price increase of the principal investment in its portfolio, Eco (Atlantic) Oil & Gas Limited.

The Company currently has a cash balance of circa £1.48 million and listed investments of circa £1.40 million.

Chairman, Peter Redmond said;

“I am very pleased that our net asset value has continued to grow, although our shares still trade at a significant discount to this figure. Going forward, we now have sufficient funds for our current and expected requirements, including our proposed investment into Sure Valley Ventures.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Pires Investments plc:

Peter Redmond, Non-Executive Chairman Nicholas Lee, Director Tel: +44 (0) 20 3368 8961

Nominated Adviser:

Cairn Financial Advisers LLP Liam Murray/Tony Rawlinson Tel: +44 (0) 20 7213 0880

Broker:

Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935

Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936