Caledonia Regulatory News (CLDN)

CALEDONIA INVESTMENTS PLC

BOARD CHANGES

Caledonia Investments plc ("Caledonia" or the "Company") announces that Will Wyatt, as part of long term succession planning, has informed the board of his intention to retire as Chief Executive at the Company's annual general meeting in July 2022. Subject to re-election by shareholders, the board has invited him to continue to serve as a non-executive director. Will is to be succeeded as Chief Executive by Mathew Masters, who is currently Head of Caledonia Quoted Equity. Mat will join the board as Chief Executive designate on 1 April 2022.

Will has served as an executive director since 2005 and was appointed as Chief Executive in 2010. Mat joined Caledonia from Grant Thornton in 2005, initially as an investment executive. He was appointed as Head of the Capital portfolio in 2010, before taking on broader responsibility for the Income strategy in 2019 when he was promoted to Head of Quoted Equity.

In addition, Caledonia is pleased to announce the appointment of Lynn Fordham as an independent non-executive director with effect from 1 January 2022. Lynn will also join the Company's Nomination, Governance and Audit Committees, succeeding Stuart Bridges as Chair of the Audit Committee in July 2022. Stuart, who is approaching nine years' service on the board, has confirmed to the board that he does not intend to seek re-election at next year's annual general meeting.

Lynn, a chartered accountant, spent much of her career in senior finance roles before serving as CEO of SVG Capital plc for eight years until 2017. She is currently a non-executive director of Dominos Pizza Group plc, having previously served as a non-executive director and Chair of the Audit Committee at Fuller Smith & Turner plc.

The board has also commenced a search process to select an additional independent non-executive director and will update the market on its progress as appropriate.

David Stewart, Caledonia's Chairman, commenting on these changes, said:

"Will has led Caledonia with great success during his long tenure, delivering outstanding returns to Caledonia's shareholders. Whilst he steps down from his executive role, we are pleased that he has agreed to continue to serve as a non-executive director. I am also delighted that our succession planning activities have enabled us to appoint Mat as Will's successor. Mat and his team have consistently delivered excellent investment returns for Caledonia's shareholders and his experience in both listed and private markets gives us great confidence that he will be a worthy successor to Will.

I am also very pleased that Lynn is joining our board, bringing extensive listed company and private equity experience. Stuart, who has made a considerable contribution to the board over nearly nine years, will be greatly missed when he leaves Caledonia at the conclusion of next year's annual general meeting"

Will Wyatt, Chief Executive, commented:

"It has been a great privilege to lead Caledonia alongside a team of first class investment professionals, including my successor Mat. I also look forward to continuing to serve Caledonia as a non-executive director following my retirement as Chief Executive."

23 November 2021

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This announcement contains inside information relating to Caledonia.

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Caledonia Investments plc

Caledonia is a self-managed investment trust company. Our aim is to grow net assets and dividends paid to shareholders, whilst managing risk to avoid permanent loss of capital. We achieve this by investing in proven well-managed businesses that combine long term growth characteristics with an ability to deliver increasing levels of income. We hold investments in both listed and private markets, a range of sectors and, particularly through our fund investments, a global reach.

For additional information on Caledonia, please visit www.caledonia.com