Softcat Regulatory News (SCT)

Softcat plc

("Softcat", the "Company")

Graeme Watt to be appointed as new CEO

The Board of Softcat plc, (LSE: SCT.L), a leading UK provider of IT infrastructure products and services, today announces that Graeme Watt is to join the Board as Chief Executive with effect from 1 April 2018.

With more than 25 years of experience in the IT distribution industry, Graeme is currently Senior Vice President EMEA, Advanced and Specialist Solutions, Tech Data Corporation ("Tech Data"), a position he has held since March 2017. He was promoted to that role when Avnet's Technology Solutions business was acquired by Tech Data in early 2017. Prior to that, he was President for Avnet Technology Solutions, EMEA for almost seven years and a member of Avnet's Global Executive Committee.

He previously spent six years at Bell Micro (as President of Global Distribution) and his earlier career included roles at Tech Data (President EMEA) and Computer 2000 (Managing Director UK & Ireland). Graeme Watt is also a qualified accountant (ICAEW).

As previously announced, and effective from the date of Graeme joining Softcat, Martin Hellawell (currently Chief Executive of the Company) will become Non-Executive Chairman and Brian Wallace (currently Non-Executive Chairman) will retire from the Board.

The Board's decision to appoint Mr Watt follows an extensive search process led by Brian Wallace and Lee Ginsberg (Senior Independent Director) with the assistance of global search firm, Odgers Berndtson.

Brian Wallace, Chairman of Softcat plc, said:

"Our extensive search generated an impressive field of candidates and Graeme stood out for his extensive knowledge of the sector and the reseller channel as well as his strong leadership skills and delivery of growth in very sizeable business units at Avnet and Tech Data. Equally importantly, he understood and was excited by the dynamic, enthusiastic, people-oriented culture at Softcat and its importance to our Company's future success. In Graeme, we believe we have found someone who can nurture the best of what we do today with the experience and dynamism to scale and grow the business yet further.

On behalf of the Board, I would also like to pay tribute to Martin Hellawell for his outstanding leadership of the Company over many years and I am delighted that he will take over in due course from me as Chair."Graeme Watt said:"I am absolutely delighted to be joining Softcat. It is a significant customer of Tech Data and I have therefore seen at close quarters its remarkable growth based on a great team providing outstanding service to a rapidly growing customer base. I look forward to introducing myself to the business, getting to know its people and operations even better and working with everyone to ensure the continued success of Softcat."Martin Hellawell added:"I am really pleased that Graeme will be joining us as Chief Executive. Over the years, I have seen what Graeme has achieved at Avnet and other companies in the IT distribution segment and have been very impressed by those achievements. He has a strong team ethos and I am looking forward to supporting him as I move into the role of Non-Executive Chairman. In the meantime, I remain completely focused on the CEO role."

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of Softcat is Win Chime, Company Secretary.

For further information please contact:

Notes to Editors

No details need to be disclosed under LR 9.6.13 in relation to this appointment.

Remuneration:

Graeme Watt:

· From 1 April 2018, Graeme Watt will receive a salary of £450,000 on his appointment as Chief Executive. The variable incentive opportunity for the Chief Executive role will be 100 per cent of Salary for the Annual Bonus and 100 per cent of Salary for the Long Term Incentive Plan. These arrangements, along with other elements of Graeme's remuneration are in line with Softcat plc's Remuneration Policy approved by shareholders in 2016. Full disclosure of these remuneration arrangements will be provided in our Directors' Remuneration Report in 2018.

Martin Hellawell:

· From 1 April 2018, Martin will receive an annual fee of £150,000 on his appointment as Non-Executive Chairman. His remuneration will be in line with his new letter of appointment.

· On stepping down as Chief Executive, Martin will receive no termination payments from the Company. In line with his service agreement and Softcat plc's Remuneration Policy approved by shareholders in 2016:

i. Martin will receive salary and benefits up to 31 March 2018.

ii. Martin will remain eligible for consideration for payment of an annual bonus in respect of 2017/18. Any payments will be time pro-rated up to 31 March 2018.

iii. Any unvested nil-cost options awarded to Martin under the Deferred Share Bonus Plan will vest in full and may become exercisable on 31 March 2018.

iv. Any unvested nil-cost options awarded under the Long Term Incentive Plan will be time pro-rated up to 31 March 2018 and will vest, subject to achievement of the relevant performance conditions, at the normal vesting dates and may then be exercised in accordance with the Plan rules.

Further details of the operation of the Deferred Share Award and Long Term Incentive Plan are set out in the Directors' Remuneration Report in our 2017 Annual Report. Full disclosure of these remuneration arrangements will be provided in our Directors' Remuneration Report in 2018.

Brian Wallace:

· The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

i. Brian will receive his annual fee until 31 March 2018. No other remuneration payment or payment for loss of office will be made.

Tech Data:

Tech Data is a leading global technology distributor with more than 115,000 customers worldwide.

Avnet Technology Solutions:

Avnet Technology Solutions was acquired by Tech Data on 27 February 2017 and at the time of the transaction was providing technology services and products to 20,000 customers across 80 countries.