Hornby : Directorate Change

Hornby PLC

('Hornby' or the 'Group')

15 December 2017

Board Changes

Hornby Plc, the international models and collectibles group, today announces the following changes to the Board.

As previously announced, David Adams; Interim Chairman, planned to step down from the Board to take up another appointment. It has been agreed that David will now formally step down from the board on 31 December 2017. At this point, Lyndon Davies, the CEO of the Group, will become Interim Executive Chairman and CEO while the search for an Independent Non-Executive Chairman continues.

Following the recent strategy review and the successful completion of the refinancing, it has been mutually agreed that David Mulligan, currently CFO and company secretary, will step down from the Board on 31 December 2017.

The Group is pleased to announce that Kirstie Gould will join the Board as CFO and company secretary. Kirstie has spent over 2 years with Hornby and will be stepping up from her current role as a consultant in the finance department. Kirstie qualified as a chartered accountant with PricewaterhouseCoopers in 1997 and since then has held senior management and directorship roles across a number of high growth SME firms including Affini Technology Limited (part of the TTG Group) and Gamma Communications plc.

The Board also intends to appoint John Stansfield as an independent non-executive director. John is a qualified accountant and spent 31 years with the Group, completing 12 years as Group Finance Director. John helped deliver some of the Group's most profitable years and has a wealth of experience in the toy and hobby sectors.

Kirstie and John will be formally appointed to the Board following satisfactory completion of the customary due diligence for listed company board appointments. A further announcement confirming their appointments will be made in due course.

Martin George, Senior Independent Director, commented.

'The Board would like to thank David Adams for his contribution to the Group over the past four years and his recent leadership as Chairman. I would also like to thank David Mulligan for his commitment over the past 18 months during a period of significant change for the business and for his successful delivery of the recent equity fund raising and bank refinancing. Both leave Hornby with our very best wishes for their respective futures.

The Board is delighted to welcome John and Kirstie to the Board and look forward to their contribution to the next stage of the turnaround process.'

Enquiries:

Hornby plc 01843 233500

Lyndon Davies, CEO

Liberum 020 3100 2222

Neil Elliot

Neil Patel

Capital Access Group 020 3763 3400

Scott Fulton

Note:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Lyndon Davies, CEO of the Company (responsible for arranging release of this announcement) on 01843 233 500.