Board Changes and Special Dividend

Board Changes

Fletcher King plc announces that David Fletcher, Non-Executive Chairman, Richard Goode and David Stewart, non-executive directors, have informed the Board of their intention to retire as Company directors and not seek re-election at the Company's AGM, which is due to be held in October 2026.

David Fletcher founded Fletcher King in 1969. The Company has since gone on to become a financially robust and profitable business with a strong reputation in the UK real estate advisory market. David led the Company's London stock market listing in 1987 and subsequent transfer to AIM in 2008, all the while building a roster of loyal, long-term clients and staff. Richard Goode was jointly responsible for the management of the Company from 2000 until 2020, whilst David Stewart has served as a non-executive director since 2002.

Together, the departing directors have provided decades of experience, stewardship and continuity to the Company and believe the time is right to step down. Their decision forms part of a succession process designed to ensure the Company remains well-positioned for its next phase of development and follows best practice under the QCA Code of Corporate Governance. The Board is progressing plans to appoint additional independent non-executive directors through a formal recruitment process, selecting individuals whose skills and experience will complement the Company's future strategic priorities, with further announcements to be made in due course.

Notwithstanding their departure from the Board in October, David Fletcher and Richard Goode will remain involved with the Company's trading subsidiary, Fletcher King Services Limited, and their key client relationships.

Special Dividend

Further, the Company is pleased to announce that it will pay a special dividend of 20p per ordinary share to all shareholders (amounting to a total cash distribution of £2.05m), drawn from what the Board believes to be a prudent distribution of surplus funds comprising profits accumulated in prior years. This will allow the Company to benefit from a strong balance sheet, enabling it to continue seeking opportunities to invest for growth amid uncertain property market conditions.

Fletcher King shareholders who are on the register of members of Fletcher King at 6.00 p.m. on 03 July 2026 (the "Record Date") will be entitled to receive the Special Dividend. The ex-dividend date for the Special Dividend is expected to be 02 July 2026.

The relevant dates for the special dividend are as follows:

Paul Andrews, Managing Director, commented:

"The Board is deeply grateful to David Fletcher, Richard Goode and David Stewart for their many years of dedicated service. Their collective experience, wisdom and commitment have been central to the Company's development and success. While their retirement from the Board in October marks the end of an important chapter in the Company's history, it also reflects a succession process that will support the Company's continued growth and development.

"Fletcher King is evolving, and strategically we are focused on growing our contracted recurring revenues. To support this, over the past 12 months, we have both in-sourced our facilities management services and grown the valuations and planning teams, whilst also progressing an ongoing programme of investment in software to enhance our client service capabilities. The Company is well placed to capture new growth opportunities in our sector, and we look forward to providing shareholders with updates on our progress."

David Fletcher, Non-Executive Chairman, added:

"When the Company was first established, my view was that to successfully build a property advisory business for the long-term, we needed to build a strong core team that could create and maintain best-in-class client services. For over 50 years we have delivered this, as evidenced by our extensive and growing list of loyal clients and the staff around us. I am excited for what lies ahead for Fletcher King."