Securities

Security Research Group plc ordinary shares are currently traded under AIM electronic off-market dealing facility which is administered by Asset Match Ltd, a firm authorised and regulated by the Financial Conduct Authority.

Issued Shares

Number of shares in issue

19,809,060

Major shareholders

Hawk Investment Holdings Ltd	18.0%	3,558,329
Jonathan Mervis	14.1%	2,795,945
Artemis Investment Management Ltd	8.9%	1,770,432
Groundlinks Ltd	7.3%	1,437,882
Seraffina Holdings Ltd	6.9%	1,367,734
Retro Grand Ltd	6.3%	1,247,319
Jonathan Davie & family	3.1%	611,714

Directors' shareholdings

Jonathan Mervis	14.1%	2,795,945
Bernie Connor	3.1%	610,769
John Warwick	2.9%	574,180

The above information is accurate as at 31 March 2016.

Corporate Governance Code that applies

The Board recognises the value of the Financial Reporting Council's UK Corporate Governance Code, and while not required to comply, the Directors endeavour to ensure the Company complies with those provisions which they consider to be appropriate for a company of its size.

UK City Code on Takeovers and Mergers

The Company is subject to the UK City Code on Takeovers and Mergers.