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.

12 March 2024

H C SLINGSBY PLC

("Slingsby", the "Company" or the "Group")

Retirement of Executive Director

Related Party Transaction

HC Slingsby PLC, one of the market leaders in the distribution of industrial and commercial equipment, announces that the Company's Operations Director, Dominic Slingsby, stepped down from the Board on 11 March 2024.  Dominic will remain as an employee of the Group until his retirement on 30 June 2024 after the Company's next annual general meeting ("AGM"), in order to facilitate an effective transition of his responsibilities.

Andrew Kitchingman, Slingsby's Independent Non-Executive Chairman commented:

"Dominic has worked for the Group for over 40 years. On behalf of the Board, I would like to thank Dominic for his commitment and contribution during his tenure. His dedication will be missed by everyone at Slingsby and we wish him the very best in his retirement."

Related Party Transaction

As part of the Board change and Dominic's retirement, in addition to payment in relation to his 12 month notice period, the Company has agreed with Dominic that he shall receive a payment of £60,000 and non-cash benefits (principally in relation to the keeping of a Company car) of a value of £15,500 from the Company under an employment settlement agreement (the "Agreement").

Entry into the Agreement by the Company constitutes a related party transaction under the AIM Rules for Companies as Dominic Slingsby was a Director of the Company at the point at which the Agreement was signed. The directors of Slingsby who are independent of the Agreement, being Andrew Kitchingman and Morgan Morris, consider, having consulted with its nominated adviser, Allenby Capital Limited, that the terms of the Agreement are fair and reasonable insofar as the Company's shareholders are concerned.

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