Directorate Change and Withdrawal of Resolution

19 May 2021

Distribution Finance Capital Holdings plc
("DFC", "DF Capital" or the "Company" or together with its subsidiaries the "DFC Group")

Directorate Changes

and

Withdrawal of Resolution

DF Capital, a newly authorised bank providing personal savings products and working capital solutions to dealers and manufacturers across the UK, announces that following discussions with the Company's major shareholder, John Baines, Non-executive Chairman, has decided to not stand for re-election at the Company's Annual General Meeting ("AGM") and resigns from his position as Non-executive Chairman and Director of the Group with immediate effect.

John will complete a short period of handover to Mark Stephens, currently Senior Independent Director, who has been appointed Interim Non-Executive Chairman.

The Company has commenced the search for a replacement Non-Executive Chairman and a further announcement will be made as appropriate.

Mark Stephens, Senior Independent Director, commented:

"The Board would like to thank John for his stewardship as Chairman of the firm since July 2017. John led the company through its IPO and was pivotal in helping the Group secure its banking licence in 2020. The successful £40m equity raise earlier this year to support the business' growth ambitions means that John leaves the business on solid foundations to deliver its strategic plan over the coming years."

John Baines, Non-Executive Chairman, commented:

"Having supported DF Capital to establish itself as a successful bank and working capital solutions provider I believe it is right for a new Chair to oversee the next stage of DF Capital's development. I wish the Company and all its stakeholders every success for the future."

Further to the above, Resolution 2 proposed in the Company's notice of AGM dated 23 April 2021 to re-appoint John Baines as Non-Executive Chairman has been withdrawn from the AGM which takes place later today.

This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) which forms part of English law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging the release of this announcement on behalf of the Company is Carl D'Ammassa, a Director of the Company.

Enquiries:

Distribution Finance Capital Holdings plc

Carl D'Ammassa - Chief Executive Officer                                       +44 (0) 161 413 3391

Kam Bansil - Head of Investor Relations                                           +44 (0) 7779 229508

http://www.dfcapital-investors.com 

Investec Bank plc (NOMAD and broker)                                       +44 (0) 20 7597 5970

David Anderson

Bruce Garrow

Harry Hargreaves

Maria Gomez de Olea