K3 Business Technology Group Regulatory News (KBT)

AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group" or "the Company")

Provider of business-critical software solutions focused on fashion and apparel brands.

Board Change

K3, which provides business‐critical software solutions focused on fashion and apparel brands, announces that Eric Dodd, Chief Executive Officer, will be retiring from the Board and the Company on 30 September 2025.

Eric will retire with the Board's very grateful thanks and appreciation for his work since he joined the Company in April 2023 as Chief Financial Officer, latterly becoming Chief Executive Officer. Over this time, Eric has played a key role in reshaping the Group's cost base, implementing the Board's simplification strategy, and supporting its focus on shareholder value.

Following the recent sale of NexSys Solutions Limited, the Company's largest business unit, and in view of the separate announcement, issued today, regarding the Board's intention to return up to approximately £29m to shareholders in due course, subject to shareholder and Court consent, and to consult shareholders in relation to a possible de-listing of the Company from AIM, after such capital return, the Board does not intend to appoint a successor to Eric, and the remaining business unit heads will report directly to the Board. In the event that such a de-listing does not proceed for whatever reason, then further consideration will be given to this decision.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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