Investee Company Cash acquisition by United Energy

05 April 2019

Starvest Plc ("Starvest" or the "Company")

Investee Company Kuwait Energy, Cash acquisition by United Energy Group

Starvest PLC (LON:SVE), the London Stock Exchange AIM-listed specialist mining and resources investment business, is pleased to announce that investee company Kuwait Energy plc (KEC) has been acquired by Hong Kong listed United Energy Group Limited (UEG) in an all-cash transaction. Starvest realised a total return of approximately 25% on its investment in KEC, which Starvest initiated in 2005 through a stake in Concorde Oil and Gas a company which was eventually taken over by Kuwait Energy in 2011.

Highlights:

• UEG has paid US$1.464 per share, or a total consideration of approximately US$477 million

• Transaction received all regulatory approvals in late March 2019

• Starvest has received approximately £123,800

Callum Baxter, Chairman and CEO, commented: 'We welcome completion of the acquisition of Kuwait Energy as approved by KEC shareholders late last year. This closes our share holding in KEC and funds have been received in full by Starvest. We plan to use the funds to add to our existing portfolio of mining and resource stocks.'

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Callum N Baxter

Chairman & Chief Executive

05 April 2019

Enquiries to:

Starvest PLC

Callum Baxter or Gemma Cryan  020 7769 6876 
info@starvest.co.uk

Grant Thornton UK LLP (Nomad)

Colin Aaronson, Harrison Clarke or Seamus Fricker  020 7383 5100

SI Capital Ltd (Broker)

Nick Emerson or Alan Gunn  01483 413 500