Caledonia Regulatory News (CLDN)

APPOINTMENT OF CHIEF FINANCIAL OFFICER

The board of Caledonia Investments plc ("Caledonia" or the "Company") is pleased to announce that it has appointed Tim Livett as Caledonia's Chief Financial Officer with effect from 12 March 2019.

Tim will join Caledonia from the Wellcome Trust, where he has been Chief Financial Officer since 2014. Prior to this position, he worked for Virgin Atlantic for ten years, initially as Finance Director and latterly as Chief Financial Officer, having previously held senior financial positions at Hudson Global Resources and British Airways.

As previously announced, Stephen King, Caledonia's current Finance Director, will step down from the board and leave the Company on 30 November 2018, following the Company's half-year results. Caledonia's Finance team will report directly to the Chief Executive pending Tim Livett's arrival.

Commenting on the appointment, Will Wyatt, Caledonia's Chief Executive, said:

"We are delighted that Tim Livett will be joining our board. His knowledge and insight gained from his responsibilities at Wellcome, in particular from his risk and performance oversight of its asset management division, which manages the Trust's £23bn mixed asset portfolio, will be highly complementary to our management team."

"I would also like again to extend the board's thanks to Stephen King for his contribution to Caledonia over his past nine years as Finance Director and we wish him every success in the future."

Tim Livett said:

"I am thrilled to be joining Caledonia, a company with a unique approach and proven track record of identifying excellent investment opportunities to build long-term value. Caledonia has a long heritage and a bright future and I look forward to working with Will and the team."

15 November 2018

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Notes:

1. There are no disclosures to be made pursuant to LR 9.6.13 in relation to Mr Livett.

2. Mr Livett's remuneration package will be in accordance with Caledonia's approved remuneration policy and will include the following:

· A basic salary of £375,000;

· A bonus opportunity of up to 100% of basic salary, of which any bonus in excess of 50% of basic salary will be compulsorily deferred into Caledonia shares for three years under the Company's deferred bonus plan;

· An annual award of 150% of basic salary under the Company's performance share scheme, which will vest based on performance as to one-third over three years and two-thirds over five years;

· A pension entitlement (cash allowance or contribution) of 17.5% of basic salary;

· Other customary benefits, such as private medical cover and death-in-service insurance.

No special sign-on commitments or compensation payments for loss of benefits from his previous employer will be made in relation to Mr Livett's appointment.

3. Mr Livett and persons closely associated with him do not hold any shares in Caledonia.

4. Information required by section 430 (2B) of the Companies Act 2006 relating to Mr King's cessation as a director of the Company is available on Caledonia's website.

END

Notes for editors:

Caledonia Investments plc

Caledonia is a self-managed investment trust company listed on the London Stock Exchange with net assets of £2.0bn as at 31 October 2018. The Company maintains a concentrated portfolio of international quoted, unquoted and fund investments and has paid an increasing annual dividend for 51 years.

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