The information contained within this announcement constituteS inside information as defined by the Market Abuse Regulations (EU) No. 596/2014, which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR").  Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

25 June 2024

RECORD PLC

Board Changes

Record plc ("Record", the "Company" or the "Group"), the specialist currency and asset manager, announces the following changes to its board of directors (the ''Board'').

Resignation of Tim Edwards

Having completed his second three-year term, Tim Ewards has decided not to continue for a third term, in order to focus on his activities in the biotechnology sector and will be stepping down from the Board and his role as Senior Independent Director, effective today.

Krystyna Nowak will become Senior Independent Director and Chair of the Remuneration Committee.

Tim Edwards, outgoing Senior Independent Director said: "It is pleasing to see the company's Succession Plan now in place and I send best wishes to Jan, Richard and Kevin, and my Board colleagues, for the next chapter in the development of the new opportunities for this business."

Appointment of New Non-Executive Director

Dr. Othman Boukrami will join the Board with effect from 1 July 2024 and will also become a member of the Audit, Remuneration and Nomination Committees. Othman is currently Chief Investment Officer of TCX, The Currency Exchange Fund, having earlier in his career held senior positions in the African Development Group and Citibank.  Othman brings highly pertinent sector expertise to the Board.

Appointment of Kevin Ayles

Kevin Ayles will join the Board with effect from 1 July 2024. Kevin has been a valuable member of the senior leadership team since joining Record in 2007 and currently serves as Group Head of HR, Director of Record Currency Management Limited, and as Company Secretary of Record plc. Kevin possesses extensive knowledge of the business and its key stakeholders and his involvement in major strategic initiatives makes it a natural next step for him to join the Board and continue contributing to the organisation's success.

David Morrison, Chairman of Record plc, said, "I am pleased that we continue to strengthen the leadership of the business by attracting high-calibre candidates to our Board and by recognising the importance of our senior leaders. I would like to thank Tim for the commitment and time he has brought to his role whilst on the Board and I wish him all the best in his future endeavours. I am also pleased to welcome both Othman Boukrami and Kevin Ayles to the Board. Othman is a highly knowledgeable professional, specifically in the field of emerging market and frontier currencies. Kevin has been an indispensable member of the senior leadership team during a period of rapid expansion and change."

This announcement is made pursuant to Listing Rule 9.6.11R.

The Company confirms that no further disclosure is required under LR 9.6.13R in respect of the appointment of Kevin Ayles as an executive director and Dr. Othman Boukrami as a non-executive director of the Company.

Kevin Ayles has interests in 1,042,341 Ordinary Shares in the Company.

For further information, please contact:

Record plc                                                                                 +44 (0) 1753 852222

David Morrison - Chairman

Dr Jan Witte - Chief Executive Officer

Buchanan                                                                                   +44 (0) 20 7466 5000

Simon Compton                                                                           

Henry Wilson                                                                        [email protected]

George Beale