TEG.L Regulatory News (TEG)

21 April 2021

Ten Entertainment Group plc

Chair Succession Announcement

Following its announcement of 25 March 2021, Ten Entertainment Group plc (the "Group") is pleased to announce the appointment of Adam Bellamy as Non-Executive Chairman effective from the AGM date on 5 May 2021.

The Group has conducted a rigorous and wide-ranging selection process to ensure that it appoints the strongest possible candidate to lead the business through its next stage of growth. Adam is currently Senior Independent Director and has served on the TEG Board since 2018 as Audit Committee Chair and latterly Remuneration Committee Chair. His extensive knowledge of our business, as well as his wealth of experience in high-growth consumer-facing companies, make him ideally placed to oversee reopening and a return to growth.

Adam is currently a non-executive director at Loungers plc, a fast-growing hospitality operator, and In The Style Group PLC, a high growth e-commerce fashion brand. Adam has previously served as CFO of Pure Gym as well as holding senior finance positions in the hospitality and leisure industry.

As a result of Adam's experience within the Group and his strong working relationship with the Board, our current Chairman Nick Basing has made the decision to step down earlier than anticipated, at the AGM on 5 May 2021. Consequently, Resolution 4 from the AGM agenda is to be withdrawn. Mr Basing will no longer be standing for re-election, as he will resign as Chairman and a director of the Company with effect from the AGM on 5 May 2021. The withdrawal of Resolution 4 does not otherwise affect the validity of the Notice of AGM dated 9 April 2021 or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged.

Julie Sneddon will be appointed as Senior Independent Director and Chair of the Remuneration Committee and Adam Bellamy will be appointed as Chair of the Nomination Committee.

The Group is already in advanced discussions with a number of outstanding candidates to join the Board as an independent Non-Executive Director and Chair of the Audit Committee. The Group will announce this appointment in due course.

The Board would again like to take the opportunity to thank Nick Basing for his outstanding contribution and leadership over the past 12 years and wishes him every success in his future ventures.

Adam Bellamy commented:

"I am delighted to have been selected to lead Ten Entertainment Group at such an exciting point in its history. I thoroughly enjoy working with this strong and experienced management team, and despite the challenges of the past year, I am confident that we have everything in place to return to growth when we re-open in May."

Nick Basing said:

"I am really pleased that Adam is taking on the Chair, he knows the business and has worked well on the Board these last three years. The business is in safe hands and I wish everyone at Ten good wishes and every success for the future."

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