Produce Investments Regulatory News (PIL)

28 October 2016

Produce Investments plc

(the "Company or "Produce")

Result of AGM and Board Restructuring

Produce Investments plc (AIM: PIL), a leading operator in the fresh potato and daffodil sectors, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were passed.

Accordingly, as previously announced by the Company, Neil Davidson has now taken over as Chairman of the Company from Barrie Clapham who today has retired after completing two three year terms. In addition, the Company is pleased to announce that Sean Christie and Liz Kynoch have today been appointed to the Board of Produce Investments plc as Non-Executive Directors with immediate effect.

Sean Christie has held a number of Senior Executive and Non-Executive positions. He is currently a Non-Executive Director of Accsys Technologies Plc, Applied Graphene Materials plc and of Turner & Townsend Limited. Previously Sean was Finance Director of Croda International Plc from 2006-2015 and, prior to that, he was Group Finance Director of Northern Foods Plc. Sean also served as a Non-Executive Director at KCOM Group Plc until 2007 and of Cherry Valley Farms Ltd until its sale in 2010. Sean will become Chairman of the Audit committee.

Liz Kynoch runs a portfolio of Non-Executive and advisory roles following a career in retail and manufacturing. Liz was formerly Group Technical & Trading Law Director at Tesco plc. Previously Liz was Technical Director at Safeway plc and prior to that was Technical and R&D Director at Express Dairies plc, having originally started her career at Marks & Spencer.

At the same time, the Company announces that Non-Executive Directors Derek Porter, Michael Jankowski and Tony Bambridge stood down from the Board following the conclusion of the AGM.

Neil Davidson, Chairman of Produce Investments said: "Sean and Liz bring extensive knowledge and experience of food retailing and manufacturing which will benefit the Company as it continues to evolve, knowledge that will help us meet both the challenges and opportunities that lie ahead. I welcome them to the Board of Produce Investments."

"I know that the support and advice given by Derek, Mike and Tony, to the Executive Team has been invaluable and they all played a major role in the Company's successful admission to the AIM market of the London Stock Exchange in 2010. They leave with our sincere gratitude for the commitment and contributions they have made over many years, the company having developed considerably during their time on the Board."

Save as set out in the additional information section below there are no further disclosures required to be made in respect of the appointments under Schedule 2(g) of the AIM Rules for Companies.

For further information contact:

Additional information

In addition to the information set out below, Liz Kynoch was a non-executive director of ToxiMet Limited until 30 April 2015. ToxiMet Limited, an early stage scientific company, was put into administration within twelve months of Liz Kynoch ceasing to be a director.

Notes to Editors

Produce Investments plc is a vertically integrated potato and daffodil company supplying blue chip customers including Tesco, Sainsbury, Asda, Waitrose and Marks & Spencer.

Website: www.produceinvestments.co.uk