Geiger Counter: Revocation of Protective Notice & Amended IM Fee

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

1 October 2026

Geiger Counter Limited
(the "Company" or "GCL")

Revocation of Protective Notice and Amended Investment Management Fee

Highlights

·      Following a comprehensive review, the Board concludes that remaining with Manulife | CQS Investment Management is in the best interests of shareholders.

·      The twelve-month protective notice issued to Manulife | CQS Investment Management on 16 March 2026 has been revoked by the Company.

·      The portfolio management activities have been sub delegated to Manulife Investment Management in Toronto, Canada.  Diana Racanelli will continue as the lead portfolio manager, supported by Craig Bethune, portfolio manager and Olivia Chamie, dedicated analyst. The team brings extensive portfolio management experience in this sector.

·      The Company's strategy will remain focused on investment in companies involved in the exploration, development and production of uranium to supply the nuclear power industry.

·      Improved terms compared with current management arrangements:

o  Reduced management fees;

o  Further protective termination provisions in respect of key personnel; and

o  Agreed marketing budgets to target increased promotional activities.

Revocation of Protective Notice

Following the resignation of the Company's previous portfolio managers in March 2026, the Company issued a twelve-month protective notice letter to Manulife | CQS Investment Management on 16 March 2026. Subsequently the Board announced on 26 March 2026 that two senior portfolio managers, Diana Racanelli and Craig Bethune, from Manulife Investment Management in Toronto, Canada would work on the portfolio management activities of the Company as the Board assessed its fund management options.

The Board has now completed an extensive review of its management options and is pleased to announce that it has concluded that the continuing appointment of Manulife | CQS Investment Management is in the best interest of shareholders. Accordingly, the protective notice previously issued has been revoked.

Continued focus on investment in uranium

There will be no change to the Company's investment objective and the portfolio will remain focused on investment in companies involved in the exploration, development and production of uranium to supply the nuclear power industry.

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Leading fund manager

The Manulife Investment Management global resources team is an experienced team primarily based in Toronto, Canada. The team is well resourced in this sector accessing 24 investment professionals managing USD1.7 billion.

Improved terms

The Company and Manulife | CQS Investment Management have entered into a revised Investment Management Agreement ("IMA") with effect from 1 October 2026.

The management fee will be reduced from 1.3875% of net assets to 1.00% of net assets. The new management fee arrangement is equivalent to a 27.9% reduction in management fees.

Manulife | CQS Investment Management have also agreed an improved marketing budget to promote the Company.  In addition, Manulife | CQS Investment Management will contribute an agreed amount towards the reasonable costs incurred, and to be incurred, by the Company in connection with the costs involved in undertaking the fund management review.

The revised IMA will be terminable by either party on twelve months notice.  Further termination rights have been extended to the Company should there be a key person event or a change of control event at Manulife | CQS Investment Management.

Gary Clark, Chair of Geiger Counter Limited said:

"Following an extremely thorough review, which included looking at a number of proposals, we are delighted to announce that the investment management of the Company will be continuing with the CQS Manulife team. We have been impressed with Manulife's depth and breadth of experience and resources, their ongoing commitment to our investment strategy and their competitive proposals, and we look forward with confidence and enthusiasm to continuing to work them."

Diana Racanelli, Investment Manager at Manulife Investment Management said:

"The team and I are honoured to be able to continue as investment managers of Geiger Counter Limited. The Company has been an investor in the uranium sector for over twenty years. We believe that investment in the uranium sector benefits from a wide range of structural power and policy trends and growing global demand and a current structural deficit bode well for future investment returns.  We look forward to working closely with the Board on this unique investment proposition."