Cavendish Financial Plc

Board Changes

19 DECEMBER 2023

Cavendish Financial plc announces that Mark Astaire has been appointed to its Board of Directors as an independent Non-Executive Director with effect from 1 January 2024.

Mark brings over 35 years of investment banking experience to the Board having held a number of senior leadership positions including Chairman of Corporate Broking at Barclays and Head of Corporate Broking at Bank of America Merrill Lynch. Mark was also a member of the Takeover Panel.

Mark is a member of the board of Sky News (which protects the editorial independence of Sky News), a Trustee of the charity Breast Cancer Now and a member of the International Advisory Board of the University of Edinburgh Business School.

Robert Lister, Deputy Chairman has informed us of his intention to step down from the Board of Directors on 31 December 2023 having led finnCap Group plc ("finnCap"), as Chairman, through its merger and subsequent integration with Cenkos Securities plc creating Cavendish Financial Plc in September 2023.

Commenting on today's announcement, Lisa Gordon, Chair said:

"I am delighted to welcome Mark to Cavendish and look forward to working with him.  His appointment ensures that the Board has substantial and differential investment banking and client service experience as we continue to build on our strategic potential following our merger in September.

Robert - as Chairman - successfully led finnCap through a period of complex strategic and leadership change and was a tremendous partner in the creation of the new combined Group.  On behalf of the Board, I would like to thank him for his significant contribution to the Board both pre-merger and during the integration of our businesses, which is now complete."

Commenting on his appointment, Mark Astaire said:

"Cavendish is a unique full-service investment bank focused on the small and mid-market, with the largest AIM client base and strong M&A franchises both in private and public company transactions.  

I am very pleased to be joining the Board and look forward to working with Lisa and the wider Board, to deliver on Cavendish's potential."

Further information relating to Mark Astaire as required to be disclosed under the AIM Rules for Companies is set out below.

Cavendish (Management)                                                                                      Tel: +44 (0) 20 7220 0500

Lisa Gordon, Chair                                                                                                 [email protected]

Julian Morse, Co-Chief Executive Officer                                                  

John Farrugia, Co-Chief Executive Officer                                                 

Ben Procter, Chief Financial Officer

Grant Thornton (Nominated Adviser)                                                                     Tel: +44 (0) 20 7383 5100

Philip Secrett/Samantha Harrison/Ciara Donnelly

Cavendish (Broker)                                                                                                 Tel: +44 (0) 20 7220 0500

Tim Redfern

Hudson Sandler (PR adviser)                                                                                   Tel: +44 (0) 20 7796 4133

Dan de Belder/Rebekah Chapman

The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with the appointment of Mark David Astaire, aged 64, to the Board of the Company:

Mark does not hold any legal or beneficial direct or indirect interest in the securities of the Company.

There are no other matters under paragraph (g) of Schedule 2 of the AIM Rules to be disclosed.

END