TIDMCRC

RNS Number : 9297U

Circle Property PLC

31 March 2023

31 March 2023

Circle Property Plc

("Circle" or the "Company")

Completion of Disposals and Directorate Changes

Circle Property plc (AIM: CRC), announces that further to the announcements dated 24 January 2023 and 24 February 2023, the sales of 400 Pavilion Drive, Northampton and Concorde Park, Maidenhead, have now completed.

In accordance with the Company's disposal strategy and with one asset in the Company remaining (being 300 Pavilion Drive, Northampton), John Arnold, Chief Executive Officer and Edward Olins, Chief Operating Officer (the "Executives"), have been served notice by the Company in accordance with their respective service agreements. Notice takes effect from 31 March 2023, in line with the Board's desire to minimise ongoing costs and to reflect the reduced business demands upon the Executives as the Company winds down prior to cancellation of the Company's Ordinary Shares from trading on AIM ("Cancellation").

Mr Arnold and Mr Olins will remain on the Board and working under their twelve-month notice periods until such time as Cancellation takes effect and the Company is liquidated solvently, at which point their respective service agreements may be terminated in accordance with their terms.

Ian Henderson, Chairman and Jamie Hambro, Non-executive Director, have also been served notice by the Company under their respective letters of appointment with effect from 31 March 2023 and will remain on the Board and serving their three-month notice periods until 30 June 2023.

No termination or changes have been made to Michael Farrow and Anthony Le Brun's letters of appointment and they will remain on the Board as Non-executive Directors being primarily responsible for overseeing corporate matters, until such time as Cancellation takes effect and the Company is liquidated solvently . A definitive timetable in relation to Cancellation will be made as soon as practicable.

Enquiries:

 
                                            +44 (0)20 7930 
 Circle Property Plc                         8503 
 John Arnold, Chief Executive Officer 
  Edward Olins, Chief Operating Officer 
 
                                           +44 (0)20 7397 
 Cenkos Securities plc                      8900 
 Katy Birkin 
  George Lawson 
 
  Radnor Capital 
  Joshua Cryer                               +44 (0)20 3897 
  Iain Daly                                  1830 
                                           +44 (0)20 3757 
 Camarco                                    4980 
 Ginny Pulbrook 
  Toby Strong

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END

MSCGRGDXBUXDGXB

(END) Dow Jones Newswires

March 31, 2023 04:00 ET (08:00 GMT)

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