Board Change and PDMR Dealing

Shoe Zone PLC

("Shoe Zone" or the "Company")

Board Changes and PDMR Dealings

Shoe Zone PLC announces the resignation of Jeremy Sharman, Non-Executive Director of the Company and the appointment of Victoria Norrish as a Non-Executive Director of the Company.

Victoria Norrish is currently Supply Chain Director at TheWorks.co.uk plc, having previous held roles as Strategic Development Director from July 2018 to January 2019 and Finance Director from November 2008 to July 2018. She previously worked as Head of Management Accounts at Jessops, having commenced her career as an auditor with KPMG and Godkin & Co.

The Company also announces that the Sharman Family Pension fund, of which Jeremy Sharman is a beneficiary, has sold its entire holding of, in aggregate, 234,375 ordinary shares of in the Company ("Ordinary Shares") via asset swap transactions to Sheepy Magna Investments Limited, an investment vehicle in which Charles Smith has a 50% interest (104,130 Ordinary Shares) and Slawston Investments Limited, an investment vehicle in which Anthony Smith has a 50% interest (130,245 Ordinary Shares). The asset swap was agreed on 3^rd August 2020 and correspondingly a price of 61p per Ordinary Share agreed.

Following the asset swap transactions, the total interest in the Company of both directors and their persons closely associated have increased as follows:

-      Charles Smith's interest in the Company has increased to 11,213,538 Ordinary Shares, representing 22.5 per cent. of the total voting rights of the Company

-      Anthony Smith's interest in the Company has increased to 14,025,837 Ordinary Shares, representing 28.1 per cent. of the total voting rights of the Company

Charles Smith and Anthony Smith's aggregated shareholding has therefore increased to 25,239,375 Ordinary Shares, representing 50.48 per cent. of the total voting rights of the Company. Charles Smith and Anthony Smith's shareholdings represent 22.43 per cent. and 28.05 per cent. respectively.

Jeremy Sharman said:

"I am proud to have served on the Shoe Zone board for the last 9 years. Having now completed two full terms of three years as a public company it is an appropriate time for me to step down as a Non-Executive director. I am pleased to have been involved in the recruitment process for my successor and am sure that Victoria Norrish will bring a wealth of talent and experience to the board. Shoe Zone is a first class company which treats all of its stakeholders, customers, staff and shareholders with the utmost integrity. I wish the team every success in the future."

Pursuant to Schedule 2 (g) of the AIM Rules for Companies, Victoria Norrish (aged 41) has held the following directorships or partnerships in the past five years:

Victoria Norrish does not hold any shares in the Company.

There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies

For further information, please call:

The below notification is made in accordance with the requirements of the EU Market Abuse Regulation.