Record Regulatory News (REC)

The information contained within this announcement constitutes inside information as defined by the Market Abuse Regulations (EU) No. 596/2014, which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

15 January 2024

RECORD PLC

Board Changes

Record plc ("Record" or the "Company"), the specialist currency and asset manager, announces that after 20 years at Record, and ten years as CFO, Steve Cullen has notified the board of his intention to retire as Chief Financial Officer in the summer of 2024.

The board is delighted to announce Richard Heading's simultaneous appointment to the board in the role of executive director and CFO, the exact date for which will be confirmed and announced in due course. Richard has extensive experience working in senior finance positions within financial services, most recently as Group Finance Director for IG Group PLC, the FTSE 250 listed online trading provider. Richard brings extensive experience to the board in such areas as Financial and Capital planning, Investor Relations, Treasury and International operations.

Steve will remain available on an advisory basis supporting the handover and transition of the CFO responsibilities in line with the Company's succession strategy. Richard will also replace Steve on the board of Record Currency Management Limited, the Group's UK regulated subsidiary, subject to receiving regulatory approval.

David Morrison, Chairman, said, "Early last year Steve indicated his desire to retire once we had identified a suitable successor. I would like to thank Steve for his many years of service to Record and to wish him a very long, healthy and happy retirement. The Company has been very fortunate to have had the benefit of his commitment and good sense for so many years. I am delighted to welcome Richard to the board and to the role of CFO. I have no doubt that his extensive experience working for global, listed businesses will be invaluable to both the board and to Jan, our CEO Elect, as the business continues its transition towards a fully-fledged, international asset manager."

Steve Cullen, Chief Financial Officer, commented, "Having worked in finance for over 35 years, the last 20 of which have been spent at Record, now feels the right time for me personally to step down. I am grateful for the opportunities received at Record including working with such a professional and respected team of colleagues over that time, and I now look forward to the next chapter, including spending more time with family and friends. I have no doubt that the business will continue to be successful and will deliver on its plans for growth and diversification, and I intend to remain a shareholder and will follow its progress with interest."

Richard Heading commented, "I am delighted to be joining the team at Record. It is a company with a fantastic reputation and track record, now embarked on a new phase of strategic growth which I am very excited to be part of."

This announcement is made pursuant to Listing Rule 9.6.11R.

The Company confirms that no further disclosure is required under LR 9.6.13R in respect of the appointment of Richard Heading as an executive director of the Company.

For further information, please contact:

Record plc +44 (0) 1753 852222

David Morrison - Chairman

Leslie Hill - Chief Executive Officer

Steve Cullen - Chief Financial Officer

Buchanan +44 (0) 20 7466 5000

Simon Compton record@buchanan.uk.com

Henry Wilson

George Beale