Halfords Regulatory News (HFD)

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014 ("MAR").

27 March 2018

Directorate change

Halfords Group plc ("Halfords") announces that Jonny Mason, Chief Financial Officer (CFO), has resigned from the business to take up the position of Group Finance Director at Dixons Carphone plc. Jonny will remain as CFO of Halfords until the end of his notice period in September 2018. The Board has commenced the process to identify his successor.

Commenting on behalf of the Board, Dennis Millard, Chairman, said:

"We are grateful to Jonny for the positive impact he has made across the business and the crucial role he played as Interim Chief Executive prior to Graham Stapleton joining Halfords as CEO in January. Jonny will leave Halfords with a strong and highly regarded finance team. His contribution to The Moving Up A Gear strategy was significant and it continues to deliver momentum across the organisation. We all look forward to continuing to work with him over the next few months and he will leave with our best wishes for the future."

Jonny said:

"Halfords is a great business. I have been constantly inspired by the enthusiasm and professionalism of colleagues throughout the organisation. I am very proud of the progress we have achieved as a team over the last few years in modernising the business to meet the ever more demanding needs of our customers. I have very much enjoyed my time at Halfords, but for me this is an exciting new opportunity with another great business. Halfords is in very good hands and I am confident that it will thrive in the years ahead."

This announcement is issued in respect of the Listing Rules clause 9.6.11 (2).

Results for the 52 weeks ended 30 March 2018 ("FY18") are scheduled to be announced on 22 May 2018. The Board anticipates underlying FY18 profit before tax will be in line with current market expectations.

Enquiries:

Halfords

Dennis Millard, Chairman +44 (0) 1527 513 276

Adam Phillips, Corporate Finance & Investor Relations Director +44 (0) 1527 513 113

Teneo Blue Rubicon

Ben Foster + 44 (0) 20 7420 3198

Notes to Editors

Summary of Jonny Mason's remuneration arrangements on exit

Following his resignation, subject to his continued employment, Jonny will receive his normal salary and associated benefits until his leaving date. Jonny's long-term incentive arrangements in respect of his awards under the PSP and SAYE schemes (as detailed in the 2017 annual report) will lapse. Jonny will be eligible to receive only the cash element of his annual bonus for the year ended 30 March 2018, if due. All annual bonus deferred share awards will lapse. 

About Halfords Group

Halfords is the UK's leading retailer of motoring, cycling and leisure products and services, as well as one of the UK's leading independent operators in vehicle servicing, maintenance and repairs. Customers shop at 460 Halfords stores and 19 Cycle Republic shops in the UK and Republic of Ireland and at halfords.com or cyclerepublic.com for pick-up at their local store or direct home delivery. Customers can also shop at three Tredz stores and a Giant store in South Wales as well as online at tredz.co.uk and wheelies.co.uk for cycling products and direct home delivery. Halfords Autocentres operates from 316 sites nationally and offers motorists high-quality MOTs, repairs and car servicing at affordable prices.

Halfords employs approximately 10,000 colleagues. The Retail offering encompasses significant ranges in car parts, cycling products, in-car technology, child seats, roof boxes and camping equipment. Halfords' key own cycling brands in-stores include Apollo, Carrera, Boardman, Pendleton and Wiggins, augmented by a range of other brands of cycles and accessories, including Voodoo and Raleigh and, through Tredz, a wide range of premium brands including Giant, Specialized, Cannondale, Cube and Scott. In Motoring, the Halfords Essentials and Halfords Advanced ranges are sold alongside brands such as General Electric, Bosch, Garmin, TomTom, Karcher, Thule and Autoglym. Halfords offers more than 70 in-store services including a fitting service called 'wefit' for car parts, child seats, satellite navigation and in-car entertainment systems, and a 'werepair' service for cycles.

www.halfords.com www.cyclerepublic.com  www.tredz.co.uk

www.halfordsautocentres.com www.boardmanbikes.com www.wheelies.co.uk

www.halfordscompany.com

Cautionary Statement

This report is based on information from unaudited management accounts and contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Halfords Group plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Halfords Group plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.

Halfords Group plc's LEI code is 54930086FKBWWJIOB179

The person responsible for arranging for the release of this announcement on behalf of the Company is Tim O'Gorman