Kin and Carta PLC Board Changes (9007I)

TIDMKCT

RNS Number : 9007I

Kin and Carta PLC

29 November 2018

Kin and Carta plc

("Kin + Carta" or the "Group")

Board Changes

As part of the transformation of the business, and in line with new corporate governance rules coming into effect in 2019, Kin + Carta today announces a series of planned changes to the membership and structure of its Board.

Richard Stillwell, who has been chairman of the Group since 2011 and was previously a non-executive director since 2006, will next year exceed the recommended maximum tenure for a director as set out in the new corporate governance rules affecting listed companies. As a result, and as part of a planned succession process, he will step down as chairman and as a director of Kin and Carta plc at the company's annual general meeting in 2019. A search for his successor will start in the early part of 2019.

Mike Butterworth, non-executive director and chair of the audit committee, will on 31(st) July 2019 have served nine years as a director of the Group. In accordance with corporate governance best practice he will also stand down from the Board during 2019. A search for his successor as a director and chair of the audit committee is already underway, and the precise date of his departure will be announced once his successor has been appointed.

In preparation for these changes, non-executive director Helen Stevenson will become Senior Independent Director with effect from 1(st) January 2019 in place of Mike Butterworth, and will lead the process to find a successor to the chairmanship.

At the same time, Helen will stand down as chair of the remuneration committee; a role that will be assumed by current non-executive director Nigel Pocklington.

- ENDS -

For further information contact:

   Kin and Carta plc                                                       020 7928 8844 

J Schwan, CEO

Brad Gray, CFO

   MHP Communications                                              020 3128 8100 

Tim Rowntree / Giles Robinson / Patrick Hanrahan / Luke Briggs

[e-mail]

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November 29, 2018 06:00 ET (11:00 GMT)