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( COLG or the Company ) Disposal of Acorn to Oaks Financial Services The Board of COLG (AIM:CIN) is pleased to announce that it has agreed terms to sell Acorn to Oaks Financial Services ( A2O ) to Jason Oakley and his wife Claire Oakley (the Buyers ) for net consideration of £1.15 million (the Disposal ). A2O is a financial services intermediary business focusing on SME and landlord insurance products. It was acquired by COLG in July 2018, to complement the Company s operations. COLG acquired 100% of the shares of A20 from Jason Oakley, his wife Claire Oakley, a vehicle controlled by Mr and Mrs Oakley, and other minority shareholders. The Company has decided to focus on its SME banking subsidiary Recognise Bank Limited ( Recognise ). The capital created by the Disposal will be deployed within Recognise

City of londonCity ofUnited kingdomBen petersClaire oakleyMichael goldsteinTim pearsonHeather armstrongJames brittonJason oakleyColin wagmanRecognise bankRecognise bank limitedMilton homes limitedParty transactionDisposal of acorn to oaks financial services