SND.L Regulatory News (SND)

18 June 2024

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Directorate Changes

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading global technology brands, announces that, following completion of the Company's recently announced fundraising to raise gross proceeds of £5.6 million, David Mitchard and Miles Woodhouse have been appointed to the Board of Company with immediate effect.

David Mitchard has been appointed as Non-Executive Chairman of the Company. Having first joined Sondrel as Interim Chief Executive Officer in March 2024, David Mitchard will also remain in his existing Interim Chief Executive Officer role until such time as John Chubb joins Sondrel as Sondrel's Chief Executive Officer on 18 July 2024.

David Mitchard has more than 20 years' experience in leading large corporate divisions in complex engineering environments and successfully implementing turnaround strategies. Most recently, David was Managing Director of Maritime Services at BAE Systems. David brings with him a wealth of experience which the Company believes will benefit its ability to execute the transformation of its business.

Miles Woodhouse has been appointed as a Non-Executive Director of the Company. Miles is currently Executive Director of Rox Equity Partners Limited, the Company's largest shareholder and brings extensive experience in building businesses from his years as an entrepreneur and director on the boards of various UK technology groups. He has particular expertise in turning operations around through shaping strategy and making tactical acquisitions. Prior to joining Rox Equity Partners Limited, Miles was the Chief Technology Officer of a £3bn subsidiary of a global defence business.

A further announcement in relation to John Chubb's appointment to the Board will be made in due course.

For further information:

The directorships and partnerships currently held by David Mitchard, aged 58, and over the five years preceding the date of his appointment, are as follows:

David Mitchard holds 554,138 ordinary shares in the Company, representing 0.32% of the Company's issued ordinary share capital.

The directorships and partnerships currently held by Miles St Philip Endean Woodhouse, aged 50, and over the five years preceding the date of his appointment, are as follows:

Miles Woodhouse was appointed as a director of Myliveguard Ltd on 31 May 2013. Myliveguard Ltd appointed a liquidator on 8 December 2023.

Miles Woodhouse is Executive Director of Rox Equity Partners Limited, a company in which he has a beneficial interest. Rox Equity Partners Limited holds 85,000,000 ordinary shares in the Company, representing 49.29% of the Company's issued ordinary share capital.