Notification of Major Interest in Shares

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ⁱⁱ

Silvermere Energy Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the
notification obligation: ⁱⁱⁱ

T1ps Investment Management (IOM) Limited

4. Full name of shareholder(s)
 (if different from 3.):^iv

BNY Nominees Limited,

State Street Nominees Limited,

5. Date of the transaction and date on
which the threshold is crossed or
reached: ^v

13^th December 2011

6. Date on which issuer notified:

14^th December 2011

7. Threshold(s) that is/are crossed or
reached: ^{vi, vii}

16%, 17%, 18%, 19%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

2,911,476

2,911,476

3,911,476

3,911,476

19.13%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,911,476

19.13%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

Funds under the discretionary management of T1ps Investment Management (IOM) Limited:

·    SF T1ps Smaller Companies Growth Fund (11.9%)

·    Elite T1ps Income & Growth Fund (7.23%)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

14. Contact name:

Michelle Lees

15. Contact telephone number:

01624 641316