Shoe Zone Regulatory News (SHOE)

4 February 2020

Shoe Zone PLC

Posting of Annual Report & Notice of Annual General Meeting

Shoe Zone PLC ("Shoe Zone", the "Company" or the "Group"), the UK's largest value footwear retailer, announces that its Annual Report and Accounts for the 53-week period to 5 October 2019, which includes a notice of the Annual General Meeting ("AGM"), has been posted to shareholders and is available on the Group's website www.shoezoneplc.com. The AGM will be held at 10am on 5 March 2020 at the Group's Head Office, Haramead Business Centre, Humberstone Road, Leicester LE1 2LH.

Proposed Change to the Company's Articles of Association

The Company's current articles of association provide that decisions of the Company's board of directors are taken by way of majority and in the event that the votes cast by directors at a board meeting are tied, the chairman of that meeting will have a casting vote (which can be used at his discretion).

Following Charles Smith's permanent appointment as Chairman, the board will have three executive and three non-executive members. In the interests of good corporate governance, the board believes that the casting vote in any board decision should be exercised by the most senior non-executive director present rather than Charles Smith (which is expected to be Jeremy Sharman as the Deputy Chairman). Accordingly, a change is being proposed to the Company's articles of association via a resolution at the AGM.

For further information, please contact:

About Shoe Zone

Shoe Zone is a Town Centre, Retail Park and Digital footwear retailer, offering low price and high-quality footwear for the whole family.

Shoe Zone operates from a portfolio of around 500 stores and has approximately 3,500 employees across the UK and the Republic of Ireland.

The store portfolio consists of over 450 high street stores containing the core Shoe Zone product range and 45 larger out of town retail units which also feature brands such as Clarks, Skechers and Hush Puppies.

The website shoezone.com, combined with the store network ensures a full multi-channel offering for great customer service.

Shoe Zone sells 18 million pairs of shoes per annum with an average retail price per pair of shoes of around £10.