Statement Regarding Shareholder Consultation

Topps Tiles Plc

("Topps Tiles" or "the Company")

Statement Regarding Shareholder Consultation

Topps Tiles Plc, the UK's leading tile specialist, provides an update, in accordance with the UK Corporate Governance Code following its Annual General Meeting held on 15 January 2025 ("AGM").

At the Company's 2025 AGM, Whilst the majority of the Resolutions were passed with majorities in excess of 50%, Resolution 3 (the remuneration report), Resolution 7 (the re-election of Rob Parker), Resolution 9 (the re-election of Diana Breeze) and Resolution 13 (the issue of equity), passed with a majority of less than 80% (receiving votes in favour of 60.49%, 60.48%, 60.02% and 60.54% respectively).

Since the AGM, in accordance with provision 4 of the UK Corporate Governance Code, the Board has engaged the relevant shareholders to understand and discuss their views with respect to these resolutions. 

With regards to the remuneration report and policy, the Company will consider shareholder suggestions at its next comprehensive review of remuneration policy.

On Chief Executive succession, on 26 June the Company was pleased to announce the appointment of Alex Jensen as CEO designate from 15 September.

Regarding the issuing of equity and the need for such a resolution, the rationale for the resolution was set out within the AGM notice.  It is standard practice for companies to include such a resolution and the Company has proposed this resolution regularly in line with Investment Association guidelines.

The Company will continue to engage with its shareholders on remuneration related matters.

Whilst the Board fully respects and acknowledges that a shareholder may choose to vote against specific resolutions, the Board considers all the resolutions proposed at the AGM to be in the best interests of all shareholders.

For further information please contact:

Joanne Steer, Company Secretary, Topps Tiles Plc

0116 2828000

[email protected]