Inspecs Group Regulatory News (SPEC)

20 December 2024

Inspecs Group plc ("Inspecs", the "Company" or the "Group")

Board Composition

Inspecs Group plc, a leading designer, manufacturer and distributor of eyewear (sunglasses, optical frames, lenses and low vision products), announces that its Board has decided to start a process of enhancing its governance structures.

In support of this, Robin Totterman has decided that he intends to step down as Executive Chair of the Board with effect from the conclusion of the Company's AGM in 2025. The Board has, therefore, agreed to commence a search for a new non-executive and independent director to assume the role of Chair when Robin Totterman steps down. The Board is clear that Robin Totterman remains critical to the future success of Inspecs and is delighted that he will continue to perform his day-to-day executive functions within the business as well as remaining a director of the Company.

The Board has also determined that it will undertake a full review of its balance and composition. In undertaking that review, the Board will take full account of generally accepted principles of good corporate governance.

Robin Totterman, Chair of Inspecs Group plc, commented:

"This change to my role reflects a continuing commitment to the evolution of the Group and its governance structures since it listed in 2020. I remain fully committed to Inspecs and will continue to contribute fully to its future success."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The person responsible for making this announcement is Elliott Smith, Company Secretary.

For further information please contact:

Inspecs Group plc via FTI Consulting Richard Peck (CEO) Tel: +44 (0) 20 3727 1000Chris Kay (CFO)

Peel Hunt (Nominated Adviser and Broker) Tel: +44 (0) 20 7418 8900George SellarAndrew Clark

FTI Consulting (Financial PR) Tel: +44 (0) 20 3727 1000Alex BeagleyHarriet JacksonAmy Goldup

About Inspecs Group plc

INSPECS is a leading provider of eyewear solutions to the global eyewear market. The Group produces a broad range of eyewear frames, low vision aids and lenses, covering optical, sunglasses and safety, which are either "Branded" (under licence or under the Group's own proprietary brands), or "OEM" (unbranded or private label on behalf of retail customers).

INSPECS is building a global eyewear business through its vertically integrated business model. Its continued growth is underpinned by six core pillars: increasing the penetration of its own-brand portfolio, increasing distribution, growing its travel retail markets, maximising group synergies, expanding its manufacturing capacity and scaling the research and development department as it develops new and innovative eyewear products.

The Group has operations across the globe: with offices and subsidiaries in the UK, Germany, Portugal, Scandinavia, the US and China (including Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy.

INSPECS customers are global optical and non-optical retailers, global distributors and independent opticians. Its distribution network covers over 80 countries and reaches approximately 75,000 points of sale.