Class Action Update

Gateley, the professional services group, can announce that its class action business, Austen Hays, has secured a settlement in respect of its first class action. This represents a significant milestone for Austen Hays, and a resolution for the clients involved in the case.

Settlement payments will be made available for distribution by no later than 31 March 2027. It is anticipated that this settlement will result in a significantly improved contribution from Austen Hays and a cash benefit to the Group's net debt position this financial year.

This is a positive outcome for Austen Hays's clients, and reflects the demonstrable progress that Austen Hays has made over recent years. Driving positive returns from the Group's historic growth investments is a key component of the Group's margin improvement strategy.

The Board looks forward to providing further detail and the broader trading performance of the Group in due course at its H1 pre-close trading update.

Martin Pike, Interim Chief Executive, commented:

"Austen Hays has passed an important milestone with the meaningful conclusion to a class action and we look forward to further progress as this business continues to develop. Delivering positive returns from our historic investments remains a key priority for the Group as we look to drive further revenue and margin growth."