CRC.L Regulatory News (CRC)

31 March 2023

Circle Property Plc

("Circle" or the "Company")

Completion of Disposals and Directorate Changes

Circle Property plc (AIM: CRC), announces that further to the announcements dated 24 January 2023 and 24 February 2023, the sales of 400 Pavilion Drive, Northampton and Concorde Park, Maidenhead, have now completed.

In accordance with the Company's disposal strategy and with one asset in the Company remaining (being 300 Pavilion Drive, Northampton), John Arnold, Chief Executive Officer and Edward Olins, Chief Operating Officer (the "Executives"), have been served notice by the Company in accordance with their respective service agreements. Notice takes effect from 31 March 2023, in line with the Board's desire to minimise ongoing costs and to reflect the reduced business demands upon the Executives as the Company winds down prior to cancellation of the Company's Ordinary Shares from trading on AIM ("Cancellation").

Mr Arnold and Mr Olins will remain on the Board and working under their twelve-month notice periods until such time as Cancellation takes effect and the Company is liquidated solvently, at which point their respective service agreements may be terminated in accordance with their terms.

Ian Henderson, Chairman and Jamie Hambro, Non-executive Director, have also been served notice by the Company under their respective letters of appointment with effect from 31 March 2023 and will remain on the Board and serving their three-month notice periods until 30 June 2023.

No termination or changes have been made to Michael Farrow and Anthony Le Brun's letters of appointment and they will remain on the Board as Non-executive Directors being primarily responsible for overseeing corporate matters, until such time as Cancellation takes effect and the Company is liquidated solvently. A definitive timetable in relation to Cancellation will be made as soon as practicable.

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