28 September 2022 

The Ince Group plc

("Ince", the "Company" or the "Group")

Related party transaction - settlement with former directors

The Ince Group plc (AIM: INCE), which provides legal, accounting, financial services, consulting, and pensions advice services, announces that following the announcement on 12 September 2022, it has now entered into individual settlement agreements with Adrian Biles, a former director of the Company and director/partner of certain subsidiaries, and John Biles, former Head of Finance and Administration and director/partner of certain subsidiaries of the Group, and both have left their positions within the Group (the "Settlement Agreements").

Under the Settlement Agreements all parties have agreed to waive all claims against each other.  This includes amounts of approximately £670,000 owed to the Group by Adrian and John Biles and their associate companies, as well as potential liabilities of the Group to Adrian and John Biles of approximately £690,000 relating to claims for loss of office, rent and other expenses. A payment of £15,000 will be paid to each of Adrian Biles and John Biles for loss of office and their interests in shares in the Company must be retained until 10 October 2022.

Entry into the Settlement Agreements by the Company constitute related party transactions under the AIM Rules for Companies as Adrian Biles has been a director of the Company within the last 12 months and John Biles has been a director of a Group subsidiary within the last 12 months. The directors of the Company (who are all independent for the purposes of these transactions) consider, having consulted with the Company's nominated adviser, Allenby Capital Limited, that the terms of the Settlement Agreements are fair and reasonable insofar as the Company's shareholders are concerned.

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