MEARS GROUP PLC

Net Asset Value • Jun 22, 2023

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RNS Number : 6440D

Mears Group PLC

22 June 2023

Mears Group PLC

("Mears", the "Group", or the "Company")

Mears Group PLC Notice of Board Changes and Withdrawal of AGM Resolution

Mears (LSE: MER), the leading provider of services to the Housing sector in the UK, announces that it has received notice from Chris Loughlin, Non-Executive Director of the Company and Chair-designate, of his resignation from the Board with effect from 23 June 2023. Accordingly, he will not seek re-election at the Annual General Meeting to be held on the same date.

Chris had previously offered himself for re-election. Notwithstanding that proxy votes received suggest that this resolution would have passed with a majority in favour, there are a significant number of proxy votes against the resolution.  As such, Chris has decided not to stand for re-election.  The Board would like to thank Chris for his significant contribution during his time as a director.

As the Company's Notice of Meeting has already been issued, the Company confirms that the resolution to reappoint Chris Loughlin as a Non-Executive Director of the Company (resolution number 7) is now withdrawn.

The withdrawal of resolution number 7 does not otherwise affect the validity of the Notice of Meeting, the proxy form or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged. This announcement is made in compliance with the Company's obligations under the Listing Rules, specifically Rule 9.6.11.

Following receipt of notice of Chris Loughlin's resignation, a review of the membership of the Board, the Chairman position and Board Committees will be undertaken and communicated in due course.

For further information, contact:

Mears Group PLC	Tel: +44(0)1452 634 600
David Miles
Andrew Smith
Lucas Critchley
Numis	Tel: +44(0)207 260 1000
Julian Cater
Kevin Cruickshank
Panmure Gordon	Tel: +44(0)207 886 2500
Tom Scrivens
James Sinclair-Ford

About Mears

Mears is the leading provider of services to the Affordable Housing sector, providing a range of services to individuals within their homes. We manage and maintain around 450,000 homes across the UK and work predominantly with Central Government and Local Government typically through long-term contracts. We equally consider the residents of the homes that we manage and maintain to be our customers, and we take pride in the high levels of customer satisfaction that we achieve.

Mears currently employs around 5,500 people and provides services in every region of the UK. In partnership with our Housing clients, we provide property management and maintenance services. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable.

We focus on long-term outcomes for people rather than short-term solutions and invest in innovations that have a positive impact on people's quality of life and on their communities' social, economic, and environmental wellbeing. Our innovative approaches and market leading positions are intended to create value for our customers and the people they serve while also driving sustainable financial returns for our providers of capital, especially our shareholders.

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