Card Factory Regulatory News (CARD)

9 April 2020

Card Factory plc

('Card Factory' or 'the Company')

Appointment of Non-Executive Director

Card Factory announces that it has appointed Nathan Lane (known as "Tripp") as a Non-Executive Director with immediate effect.

Tripp is the founder of Resegon Capital Partners where he focuses on investing in and managing investments in private and public markets. He has a particular focus on the retail and consumer space and is currently a director at Vivarte, a French apparel retailer, and served on the board of New Look from 2010-2015. Before founding Resegon, Tripp worked for investment firms BlueMountain Capital and Apax Partners.

Following constructive discussions between the Company and Teleios Capital Partners LLC ("Teleios"), a long-term shareholder with a c12% interest in the Company, and another major shareholder, Teleios recommended the appointment of Tripp as a Non-Executive Director. Following this recommendation, members of the Board met with Tripp and the Nomination Committee met to consider his appointment. The Nomination Committee concluded that Tripp has relevant skills and experience that could add value to the Company and have recommended that he join the Board.

The Board has decided that, whilst Tripp will not be a nominated director of Teleios, or acting on their behalf, given the circumstances it would not be appropriate to view Tripp as an independent Non-Executive Director for the purposes of the UK Corporate Governance Code.

Tripp's remuneration from the Company will be in line with that paid to other Non-Executive Directors. In addition, the Company understands that Teleios have agreed to supplement Tripp's remuneration with a one-off payment in order to secure his candidacy.

Tripp does not currently hold any Card Factory shares and there are no further details required to be disclosed under LR 9.6.13 R of the UK Listing Authority's Listing Rules.

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