Shore Capital Group Limited

(“Shore Capital” or the “Group”)

Regulatory Approval of sale of National Licence by Spectrum Investments

Shore Capital, the independent investment group specialising in equity capital markets, principal finance and alternative asset management, announces an update regarding Spectrum Investments Limited, (“Spectrum”) in which it holds a 59.26% interest.

Shore Capital announced on 31 March 2015 that Spectrum’s subsidiary, DBD, had signed a Sale and Purchase Agreement to sell its interest in national radio spectrum licences together with six regional radio spectrum licences to Deutsche Telekom AG for €15.45 million, (“the Transaction”).

Shore Capital is pleased to report that DBD has received the necessary approval from the German telecommunications regulator, Bundesnetzagentur, and that all completion conditions have now been satisfied. Shore Capital therefore expects the Transaction to complete shortly.

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About Spectrum and DBD
Following the completion of the Transaction, DBD will continue to own 32 regional radio spectrum licences cover areas with approximately 16.5 million inhabitants including many of Germany’s largest metropolitan centres: Berlin, Leipzig, Dresden, Düsseldorf and Hanover. They convey the right to utilise the assigned 28 MHz of frequencies in the 3.5 GHz range in perpetuity. The regional radio spectrum licences therefore enable potential owners to make long term investment decisions when faced with the challenge of delivering greater levels of data capacity to subscribers as 4G services are deployed in Germany for smart phones, tablet devices and mobile computing.

The remaining licences are now being carried on Spectrum’s balance sheet at an overall value of €2.5 million, equivalent to approximately €0.005/MHz/pop, (a measure often used in the industry) which the Company believes to be a conservative valuation.

About Shore Capital
Shore Capital is an AIM quoted independent investment group. Founded and owned by entrepreneurs, for three decades Shore Capital has been helping entrepreneurial businesses reach their full potential, find committed long term investors and develop into significant enterprises. The business offers innovative corporate advice; a leading market-making business; some of the most respected investment research available in the UK; and a diverse range of high quality investment opportunities, including its hugely successful VCTs and principal finance activities. It is a business founded on four simple values – integrity, drive, competence and trust.

The Group is based in Guernsey, London, Liverpool, Edinburgh and Berlin. Shore Capital Stockbrokers Limited, Shore Capital and Corporate Limited, Shore Capital Limited and Puma Investment Management Limited are each authorised and regulated by the Financial Conduct Authority.  Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.
www.shorecap.gg