SIGNIFICANT SHAREHOLDERS

Shareholder Shares Percentage
Scott Fletcher*** 63,439,687 17.32%
Africa Finance Corporation 54,988,520 15.01%
Polenergia International Societe A Responsabilite Limitee* 29,111,719 7.95%
Michael Haworth* 16,759,462 4.57%
Mrs & Mr Weatherhead** 14,183,559 3.87%
* Michael Haworth NEL's non-executive chairman holds 3,649,329 shares in his own name and 13,110,133 through a trust
** Mr & Mrs Weatherhead also hold 8,333,333 warrant instruments, which if exercised, would take their holding to 6.15% of the company’s enlarged share capital, assuming that no other warrants are exercised.
*** Scott Fletcher also holds 888,900 warrant instruments, which if exercised, would take his holding to 17.5% of the company’s enlarged share capital, assuming that no other warrants are exercised.