Board update

CAB Payments today announces that Ann Cairns, Chair of CAB Payments Holdings plc, has informed the Board of her intention to step down as Chair and as a Director of the Company and Crown Agents Bank. Ann will remain in position until no later than 31 December 2026, to enable the Board to conduct a thorough search for her successor. The process of appointing a new Chair will consider both internal and external candidates and will be led by the Nomination Committee, chaired by the Company's Senior Independent Director and comprising only Independent Non-Executive Directors, with the support of an external search firm.

Noel Harwerth, Senior Independent Director, commented today:

"As a Board, we'd like to thank Ann for her leadership, dedication, and wisdom over the past few years and most particularly in driving the changes needed to set the business on a growth path again. The Group has performed well during the last 12 months, and it is in a much stronger position to achieve future growth. Ann has shown significant resolve and determination in leading the Board in its dealings with a number of takeover approaches to the business, something she will remain very focused on prior to handing over to her successor."

Ann Cairns added:

"The Group has continued to make great progress in the execution of its strategy and its first half results today have confirmed continued strong growth, significant capital generation and, through a new Capital Management Framework, the capacity for cash returns to shareholders via an interim dividend.

"This is a business with a bright future ahead of it and I am committed to ensuring continuity as I hand over to my successor. I would like to thank fellow Board members, the executive team, employees and shareholders for their hard work and commitment to the business over the years and as it continues on its exciting journey."