Record Regulatory News (REC)

22 September 2016

Record plc

Board Changes

Record plc ("Record"), the specialist currency manager, today announces the resignation of non-executive directors Cees Schrauwers and Andrew Sykes with immediate effect.

As previously disclosed in the Record plc Annual Report 2016, from November this year Cees Schrauwers and Andrew Sykes will no longer be deemed independent, having joined Record just prior to its introduction to the Official List in December 2007. Consequently the Board agreed that Mr Schrauwers and Mr Sykes would stand down from the Board following the appointment of two new independent non-executive directors and a period of transition and handover.

Further to the appointments as independent non-executive directors of Jane Tufnell in September 2015 and Rosemary Hilary in June 2016, Cees Schrauwers and Andrew Sykes have both formally tendered their resignations today, with immediate effect. Their resignations were accepted by the Board.

Neil Record, Chairman of Record, commented: "Both Cees' and Andrew's knowledge and experience have been fundamental to the smooth transition of Record from a private company to a premium-listed public company, helping to ensure the appropriate client-centric and risk-focused culture is fully embedded across the business. I would like to take this opportunity to thank them both for their commitment to the firm, and their invaluable advice and guidance over the past nine years."

Following the resignations of Cees Schrauwers and Andrew Sykes the Board has agreed that with immediate effect the Audit and Risk Committee will be chaired by Rosemary Hilary, the Nomination Committee by Jane Tufnell, and the Remuneration Committee by David Morrison, who will also be the Senior Independent Director.

Enquiries:

Record plc Tel: +44 (0)1753 852 222

Neil Record, Chairman

James Wood-Collins, Chief Executive Officer

MHP Tel: +44 (0) 20 3128 8100

Nick Denton record@mhpc.com

Ollie Hoare

Notes to Editors

Record plc

Record is a specialist currency manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency manager. Specifically, the Group has a leading position in managing Currency Hedging and Currency for Return for institutional clients.

The Group has three principal product lines:

· Dynamic Hedging, where Record seeks to eliminate the impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies when these movements are expected to result in an economic loss to the client, but not to do so when they are expected to result in an economic gain;

· Passive Hedging, where Record seeks to eliminate fully or partially the economic impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies; and

· Currency for Return, in which Record enters into currency contracts for clients with the objective of generating positive returns.

Record (LSE: REC) was admitted to trading on the London Stock Exchange on 3 December 2007.