TEG.L Regulatory News (TEG)

8 September 2020

Ten Entertainment Group plc

("Ten Entertainment" or the "Group")

Appointment of New CEO

Following the conclusion of a rigorous search for a new CEO, the Board is pleased to announce the appointment, with immediate effect, of Graham Blackwell, initially as Interim Chief Executive Officer.

Graham is currently the Group's Chief Operating Officer. He has over 30 years' experience within this industry and has served on the Ten Entertainment Board since the IPO in 2017. His unique experience and outstanding execution skills make him ideally placed to lead the business through this next phase. Graham will continue to be supported by Antony Smith as CFO with guidance and oversight from Nick Basing, Interim Executive Chairman.

Following Graham's appointment today, the Board has agreed that Duncan Garrood will step down from the Board and leave the business today, earlier than previously announced.

The Group is pleased to have successfully re-opened 42 of its family entertainment centres. Three sites remain in local lockdown, and these are ready to open when local regulations allow. Initial trading has been very encouraging and is building week on week, proving to be cash generative already.

A further update will be given with the Group's interim results for H1 2020 at the end of September.

Nick Basing, Interim Executive Chairman said:

"The Board were unanimous that Graham is the stand out candidate to lead the Group. He has been instrumental in the business transformation over recent years. His track record has been outstanding and I look forward to continuing to work closely with him.

I'm delighted that trading has begun so encouragingly. This is a function of the widespread consumer appeal of our offer, the quality of our operating estate and our strong leadership team. Under Graham's direction I am confident that we will return to our trajectory of growth in sales and profitability."

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