Watchstone Group PLC

Transaction in Own Shares • May 29, 2024

National Storage Mechanism | Additional information

RNS Number : 2774Q

Watchstone Group PLC

29 May 2024

Watchstone Group plc

( " Watchstone " or the "Company")

RESULT OF ANNUAL GENERAL MEETING

Watchstone Group plc's 2024 AGM was held earlier today, and all resolutions proposed were duly passed as follows:

Resolution	Votes for	%	Votes against	%	Votes total	% of ISC voted	Votes withheld
1	24,188,174	99.30%	170,810	0.70%	24,358,984	52.91%	158,235
2	24,327,790	99.44%	137,049	0.56%	24,464,839	53.14%	52,380
3	24,131,042	98.50%	368,562	1.50%	24,499,604	53.21%	17,615
4	24,355,341	99.41%	144,263	0.59%	24,499,604	53.21%	17,615
5	24,505,848	99.96%	10,549	0.04%	24,516,397	53.25%	822

The Company also announces that as of the end of the 2024 financial year, Stefan Borson, Chief Executive Officer will cease to be employed full time by the Company and his fixed remuneration will be reduced to nil. From 1 January 2025, he will remain as a Director and receive only variable incentives dependent on any further distributions and recoveries (if any). Richard Rose has also agreed to continue as Non-executive Chairman with a very significantly reduced Director's service fee.

The proposed reduction of the Company's share premium account ("Share Premium Reduction") and a proposed return of cash to Shareholders ("Return of Cash") as approved by resolution 5 remain subject to Court approval.

EXPECTED TIMETABLE OF EVENTS RELATING TO THE RETURN OF CASH

Court Hearing to confirm the Share Premium Reduction	2 July 2024
Record Date relating to the Return of Cash	3 July 2024
Ordinary Shares commence trading ex-entitlement to the Return of Cash	8.00 a.m. on  4 July 2024
Registration of Court Order and Effective Date of the Return of Cash	4 July 2024
Dispatch of cheques to shareholders or shareholders' CREST accounts credited (as appropriate) in respect of the Return of Cash entitlements	On or around 12 July 2024

Notes

These dates are estimates only, being subject to agreement of hearing dates with the Court.  Any changes will be notified to shareholders by an announcement on the Regulatory News Service.

All references to time in this announcement are to London time.

For further information:

Watchstone Group plc [email protected]	Tel: 03333 448048
WH Ireland Limited, Financial Adviser and Broker Antonio Bossi / James Bavister	Tel: 020 7220 1666

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