Titon Regulatory News (TON)

LEI: 213800ZHXS8G27RM1DD7

1 April 2022

Titon Holdings Plc

Non-Executive Director appointments and Board changes

Titon Holdings Plc, ("Titon", the "Company" or the "Group") a leading manufacturer and supplier of ventilation systems and window and door hardware, today announces the appointments of Paul Hooper and Jeff Ward as independent Non-executive Directors of Titon with immediate effect. At the same time, John Anderson, the Company's founder and a Non-Executive Director, will step down from the Board but will remain as President in recognition of his outstanding contribution to Titon since its inception in 1972. Tyson Anderson will take on the position of Deputy Chairman.

Independent Non-executive Director appointments

Paul Hooper is currently Chief Executive of The Alumasc Group plc, a position he has held since April 2003. Alumasc is a UK-based supplier of sustainable building products and solutions. He joined Alumasc in April 2001 as Group Managing Director. His earlier career included a first Managing Director role with BTR plc in 1992. He subsequently joined Williams Holdings plc in Special Operations, implementing acquisitions in Europe and North America, prior to joining Rexam PLC as a Divisional Managing Director with responsibility for operations in Europe and South East Asia. Paul holds an MBA from Cranfield School of Management.

Jeff Ward is currently CEO of Guardian Fall, one of the largest independent height safety companies in the world. He was previously CEO of Centurion Safety Products from December 2015 until July 2020 and before then held a number of leadership roles in hardware and safety businesses where he was responsible for a range of activities, including sales, marketing, supply chain and strategy. Jeff holds an MBA from Warwick Business School and also serves as a Director of the British Safety Industry Federation.

Both individuals bring a wealth of experience and skills to the Board and we look forward to them making a valuable contribution to Titon's future.

Board Changes

John Anderson will step down as Deputy Chairman and a Non-Executive Director of the Company with immediate effect and will take up the position of President due to his outstanding service to Titon. He will no longer be a director of the Company but will still be entitled to attend board meetings where his experience and advice will always be valued. Tyson Anderson will take on the position of Deputy Chairman of the Board from today and will represent the Anderson family shareholding in Titon on the Board. The role of Sales and Marketing Director will be moved to our main operating subsidiary, Titon Hardware Ltd, and Tyson will continue his duties in this role. As previously announced, Tony Gearey will leave the Group on 6 April 2022 and the role of IT Director will cease with effect from the same day. These changes are designed to allow the Board to focus on delivering the Group's strategy and financial performance while ensuring that operational matters are managed at the level of the main subsidiary.

Keith Ritchie, Executive Chairman, commented:

"I am delighted to welcome Paul and Jeff to the Board and I am confident that they will utilise their invaluable experience and knowledge in assisting us with developing our strategy for the future. This is particularly relevant given the transition to net zero, our role in the continuing need to improve indoor air quality and our ultimate objective to generate on-going shareholder value. I look forward to their contributions."

"I pay tribute to John Anderson, as Titon's founder, for his contribution to the Group over the last 50 years. He was one of the first people who really understood the importance of trickle vents for indoor air quality in the UK and has seen many millions installed in homes throughout the country and in overseas markets. At Titon, the role of President is reserved for individuals who have rendered outstanding service to Titon and John absolutely meets this test."

For further information please contact:

Titon Holdings Plc

Keith Ritchie Tel: +44 (0) 7748 146834

Shore Capital (Nominated Adviser and Broker)

Daniel Bush Tel: +44 (0)20 7408 4090

James O'Neill

Appendix - AIM Rule 17

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules, Graham Paul Hooper, aged 66, holds or has held in the past 5 years the following directorships and partnerships:

There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

In accordance with Schedule 2(g) of the AIM Rules, Jeffrey Graham Ward, aged 43, holds or has held in the past 5 years the following directorships and partnerships:

Mr Ward was appointed as a Director of Robert J. Hall Limited, an indirect subsidiary of Storch Holding GmbH at the time, on 1 December 2010 and he resigned as a Director on 15 April 2011 when he left the Storch group. On 10 February 2012 administrators were appointed. On 31 December 2012, the Company was placed into creditors voluntary liquidation and was subsequently dissolved on 21 August 2021. The total deficiency as regards creditors was approximately £15.9m.

There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.