Align wishes to clarify a number of misconceptions surrounding our involvement in Widecells Plc in recent months. Points as below:

1. We had been attempting to establish a precise understanding of the company’s current capital position in recent weeks with a view to a full update note. These requests for information by the company went unheeded.
2. It was public knowledge and statements had been made specifically by David Sefton to our company that the financing structure with Widecells would be addressed in the near term some several weeks ago to be less dilutory to shareholders. We had relied upon this position in our buying stock in the company to take us to the then holding of over 5%. 
3. The RNS from the company stating that Widecells had terminated the agreement with us is factually incorrect – this was by mutual agreement at, in fact, Align’s instigation.
4. We have been asked in recent days why we made the comment in late March that “penalty shares no longer apply”. The answer to this is that the company relayed this specific information to us in an email of 25^th March 2019.
5. Finally, we have asked the company for clarity for all Widecells shareholders given our responsibility up to the point of termination yesterday with regards to this specific statement in yesterday’s RNS – “To the extent that the Theoretical Conversion Price (TCP) is below the Minimum Conversion Price the shortfall in the amount converted will be settled at the time of the next tranche.” Thus far there has been no clarity back from the company and it is our belief that, as worded, the new floor is not in fact a new floor at all as new shares equivalent to this shortfall appear to be issued in the next tranche. For example, should the TCP be 0.3p then in the next tranche due to be converted, approx 25% extra shares would be issued. 

We trust this sets the record straight on many misconceptions regarding our involvement with Widecells Plc

• Widecells