Record Regulatory News (REC)

20 September 2018

Record plc

Board Changes

Record plc ("Record"), the specialist currency manager, today announces the resignation of non-executive director David Morrison effective 30 September 2018.

As previously disclosed in the Record plc Annual Report 2018, from October this year David Morrison will no longer be deemed independent, having joined Record in October 2009. Consequently the Board agreed that he would stand down from the Board following the appointment of a new independent non-executive director and a period of transition and handover.

Further to the appointment of Tim Edwards as an independent non-executive director in March 2018 David Morrison has today formally tendered his resignation and his resignation has been accepted by the Board.

Neil Record, Chairman of Record, commented: "David's advice and guidance have proved invaluable in ensuring Record has remained client- and risk-focused and I would like to take this opportunity to thank him for his commitment to the company over the past nine years."

Following the resignation of David Morrison the Board has agreed that with effect from 1 October 2018 the Remuneration Committee will be chaired by Tim Edwards. The Nomination Committee will continue to be chaired by Jane Tufnell, who will also be the Senior Independent Director, and the Audit and Risk Committee will continue to be chaired by Rosemary Hilary.

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.