The Pebble Group announced changes to its Board of Directors. As a consequence of his growing private sector business commitments, Richard Law has resigned as Chair and as a Non-Executive Director of the Group. The Board is comfortable in accepting this resignation with immediate effect because it is confident that the number, depth of experience and commitment of the continuing Directors is strong, and because this change is not expected to have any impact on the Group's current trading, teams or customer and supplier relationships.

As a result, resolution 4 (to re-elect Richard Law as a Director) as set out in the notice of 30 April 2024's Annual General Meeting has been withdrawn by the Company. Due to their existing external commitments, the Board's three continuing independent Non-Executive Directors have asked the Group CEO, Chris Lee, to take a short-term interim Chair role alongside his current duties until a new independent Non-Executive Chair is appointed, the search for which is underway. The Board recognises the importance of an independent Non-Executive Chair and will seek to ensure that the separation of Chair and CEO roles is resumed as soon as possible.

There will be no change to Chris' remuneration or other terms of employment during this short-term period and they will update on the progress of the independent Non-Executive Chair search in future market updates.