Industrial & Commercial Holdings PLC (“ICH”)

ICH is a small unquoted property company. It owns land with potential for residential planning permission at Milngavie, adjacent to Dougalston golf course, just north east of Glasgow.

Western has supported a reorganisation and refinancing of ICH and is working with ICH’s professional advisers to achieve re-zoning of part of its land holdings for residential development.

Western now holds 15,252,744 ordinary shares in ICH representing 29.9 per cent of ICH’s issued ordinary share capital).

Mr D C Marshall and Mr E J Beale are non-executive directors of ICH.  City Group is company secretary of ICH and provides accounting services to ICH.