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Issue of Equity


("Milestone" or the "Company")

Issue of Equity

The Company announces that it has raised gross proceeds of £517,220 through a placing of 172,406,670 new ordinary shares of 0.1p each ("Ordinary Shares") at a price of 0.3 p per share.

Further to the announcement made by the Company on 7 December 2016, the Company also advises that £60,000 of proceeds has been received from certain of the Broker Placees (as defined in the 7 December 2016 announcement) in respect of the placing originally announced on 20 October 2016 (the "October 2016 Placing"). These Broker Placees have also agreed to subscribe for a further 24,000,000 Ordinary Shares at par, providing the Company with additional gross proceeds of £24,000, the effect of which is to allow these Broker Placees to effectively subscribe at 0.3 p per share in respect of the new issue of equity and the October 2016 Placing when aggregated.

Accordingly, in aggregate, the Company will receive gross proceeds of £601,220 in relation to the new issue of equity and receipt of funds from the October 2016 Placing.

An amount of £1,325,000 remains outstanding in relation to the October 2016 Placing. The Company remains in discussion with the remaining Broker Placee and, as already announced, intends to pursue the Company Placee (as defined in the 7 December 2016 announcement) in respect of the £1,250,000 outstanding from it.

Application has been made for the 196,406,670 Ordinary Shares to be admitted to trading on AIM ("Admission"). These new Ordinary Shares will upon Admission rank pari passu with the existing Ordinary Shares. Admission is expected to occur on or around 21 December 2016.

Upon Admission, Milestone will have in issue 1,082,141,411 Ordinary Shares with voting rights.

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 a change to their interest in, the Company under the Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information:

Milestone Group PLC
Tony Sanders

Tel: 020 7929 7826

Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray/Sandy Jamieson

Tel: 020 7213 0880

Hybridan LLP, Broker
Claire Louise Noyce

Tel: 020 3764 2341

Walbrook PR Limited, PR
Gary Middleton / Paul Cornelius

Tel: 020 7933 8780