Shareholder Analysis

i. The company's issued share capital

The company's issued share capital comprises 307,880,416 ordinary shares of nominal value 10p each.

ii. Significant shareholders

Beneficial owners

As at 11 April 2012, the company is aware of the following entities which held an interest and voting rights in more than 3.0% of the company's issued share capital :-

Shareholder	No. of shares	%
Prudential plc (see note)	60,871,428	19.77%
Legal and General Group plc	52,615,072	17.09%
Ignis Investment Services Limited	21,361,054	6.94%
Standard Life Investments Ltd	12,711,290	4.13%

Note: A wholly owned subsidiary of Prudential plc has direct fund management control over M&G Investment Funds 3 (an Open Ended Investment Company) in respect of the above shares disclosed by Prudential plc.  M&G Investment Funds 3 is managed by M&G Investment Management Limited (a wholly owned subsidiary of Prudential plc). This disclosure is in respect of the shares disclosed by Prudential plc and not in addition to it.

The Directors of the company have an aggregate beneficial interest in 934,944 shares (0.30%) and the Corac Group plc EBT (Employee Benefit Trust) has a beneficial interest in 1,506,347 shares (0.49%).

Registered holders

In addition, various entities were each the non-beneficial registered holder and/or fund manager of between 3% and 10% of the company's share capital, mostly on behalf of the shareholders listed above. These include TD Waterhouse Nominees (Europe) Ltd.

iii. Trading Platform

The company's shares are publicly traded on the AIM market in London. There are no restrictions on the transfer of AIM securities.