Share and Significant Shareholdings

The current share capital of the company consists of 200,555,662 ordinary shares with a nominal value of 2p each, with voting rights. The Company does not hold any shares in Treasury

Authorised

300,000,000 ordinary shares of 2p each

Allotted, issued and paid

200,555,662 ordinary shares of 2p each

The Company has been notified that the following shareholders held more than 3% of the Company’s issued shares at 31^st December 2006.

	Number of ordinary shares	Percentage of issued share capital

Merlin BioSciences	100,257,774	49.9%
George Gallagher	7,693,500	3.8%

Total	107,951,274	53.7%

The number of shares not in public ownership is 110,250,632, (54.97%).