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Significant Shareholders

Shareholder % of issued Ordinary
 Share Capital
Schroder Investment Management 16.58
Lombard Odier Asset Management 14.68
Harwood Capital 8.88
Sacisa Limited 6.34
Independent Investment Trust 5.41
AXA Investment Managers 4.82
Hargreaves Lansdown Asset Management 4.66
Polar Capital 3.00

The significant shareholder information shown above is valid as at 31st July 2019.

As at 31st July 2019 , NAHL Group PLC has in issue 46,178,716 ordinary shares. No shares are held in treasury. In so far as NAHL is aware, the percentage of shares not in public hands is 31.89%.

Restrictions on Holdings of Shares in NAHL Group plc

The Group consists of several legal entities, a number of which are law firms licenced and regulated the Solicitors Regulation Authority (the “SRA”). Under the Legal Services Act 2007, there are rules as to the holding of restricted interests in licenced law firms. In this context, a restricted interest is 10% or more of the shares of the licensed law firm or the ultimate parent company.

As a result, SRA consent is required should any persons who are non-authorised in the context of the Legal Services Act 2007 seek to acquire a shareholding of 10% or more in NAHL Group plc. It is a criminal offence for any non-authorised person to acquire a restricted interest without first notifying the SRA or to acquire a restricted interest having notified the SRA but before obtaining their consent. The SRA also has power to force the divestment of any shareholding which breaches this rule via the courts.

Any investors intending to obtain a restricted interest holding in NAHL Group plc should contact or 01536 527500 for more information or seek professional advice.