20 May 2020

LOMBARD CAPITAL PLC

Property Acquisition and Share Issues

The directors of Lombard Capital Plc (“Lombard” or “the Company”) are delighted to announce that, following the announcement made on 1 April 2020, the Company’s wholly owned subsidiary Waste and Recycling Solutions Limited (“WARS”) has exchanged contracts on the purchase of its first asset, a freehold plot of land Gaskell House 45-49 Rough Hey Road, Grimsargh, Preston. PR2 5AR.

An exchange of contracts has been agreed for a cash consideration of £1,080,000 (£900,000 + VAT). The exchange deposit of £150,000 was transferred on Wednesday 22^nd April 2020 and exchange took place on Thursday 23^rd April 2020. Completion is due on 29^th May 2020.

Completion is only conditional on the payment of the consideration.

WARS is 100% owned by LCP Financial Limited (“LCP”) which in turn is wholly owned by Lombard.

The initial deposit of £150,000 has been paid by LCP. LCP intend to raise the balance less the cash they have available via the issue of more of their bonds which are listed on the Wiener Borse

Two companies that have worked closely with Lombard, Seventy Seven Properties Limited and Capital Protection Program Limited have underwritten any shortfall. Seventy Seven Properties Limited, which owns 5.72% of Lombard, is controlled by Mr Terence Smith. Capital Protection Program Limited is controlled by Barry Fromson. Barry Fromson is a director of LCP and a 17.82% shareholder in Lombard.

The site is a total of 3.06 acres with approximately 7000 sq ft offices & 44,000 sq ft of warehousing. Within the footprint are additional storage areas and open plan concreted areas with 2 weigh bridges while offering excellent transport links to the M6, M60 & M62 corridors.

The site, which was previously operated as a waste and recycling centre, was mismanaged and has had its license suspended.

The site has been purchased as an investment and it is envisaged that WARS will apply to have the Environmental license reinstated. The intrinsic value of the site with the applied amendments and an operational permit would, the directors believe, increase the value of the site dramatically.

WARS is actively pursuing further acquisitions to promote the programme, initially to include a Waste to Energy facility and a bespoke Plastic Recovery Plant which will complement the waste processing at Gaskell House. The synergy of these separate projects will create a unique position within the Waste sector offering an unrivalled control of the materials received into the WARS Group.

In the coming days, Barry Fromson will join the board and David Grierson having expressed his desire to step down from the board will retire as a director. Further announcements will be made at the appropriate time.

Lombard previously announced that LCP listed a debt programme for up to £50m 4% Bonds 2022 on the Vienna Stock Exchange MTF (third market). To date a total of £2,497,000 of bonds have been issued for net proceeds, after discounts, of £2,099,370.

The directors of Lombard now announce that they have received notice that holders of bonds totalling £507,000 wish for their bonds to be repaid and the funds immediately used to acquire Ordinary Shares in the Company at a price of 25p per share. As a result, the board have resolved to issue 2,028,000 Ordinary shares of £0.001 each.

The directors of Lombard now announce that holders of 3,200,000 warrants have given notice to exercise the warrants into 3,200,000 Ordinary Shares at the rate of 10p per share, for a total consideration of £320,000. As a result, the board have resolved to issue 3,200,000 Ordinary Shares of £0.001 each. A total of 10,985,000 warrants, convertible into 10,985,000 Ordinary Shares, with an exercise price of 10p per share remain outstanding.

As a result of the above transactions, a total of 5,228,000 Ordinary Shares of £0.001 each are being issued.

As a result of these allotments the Company now has 14,809,784 Ordinary Shares in of £0.001 each issue.

The above figure of 14,809,784 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

As a result of these issues the following substantial shareholdings exist: -

Shareholder    Shares issued Total Shareholding Shareholding (percentage)
                    (number)           (number)

Richard Murray     2,000,000          4,437,558                    29.96%

John Reilly        1,000,000          2,218,779                    14.98%

Ross Maxwell       1,432,000          1,432,000                     9.67%

Robert Lyndsay       596,000            596,000                     4.02%

Peter Harding        200,000            443,756                     3.00%

The directors of Lombard accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick
Tel:  07718 883813

AQSE Growth Market Corporate Adviser
Alfred Henry Corporate Finance Limited
Nick Michaels:  0203 772 0021