10 October 2024

AUCTION TECHNOLOGY GROUP PLC

("ATG" or the "Company")

Directorate Change

ATG announces that Tom Hargreaves has informed the Board of his intention to step down as Chief Financial Officer and as a Director of the Company in order to take up a new position with a private equity-backed company.  Tom will remain with the Company until early next year in order to ensure a smooth transition.  The Board has initiated a search for his replacement.

John-Paul Savant, CEO, said:

"Tom has been with ATG for almost eight years and played a key role in the ATG journey.  On behalf of myself and the Board I want to thank Tom for his many contributions to ATG's success and wish him the best in the next phase of his career."

Tom Hargreaves, CFO, commented:

"I'm incredibly proud of what we have achieved in the time I've been at ATG. I'm confident that ATG is in a strong position for ongoing success and I look forward to working with John-Paul and the Board to ensure a smooth transition."

A further announcement regarding Tom Hargreaves' successor, and associated timing of appointment, will be made in due course.

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About Auction Technology Group plc

Auction Technology Group plc ("ATG") is the operator of world-leading marketplaces for curated online auctions, seamlessly connecting bidders from around the world to around 4,000 trusted auction houses across two major sectors: Industrial & Commercial ("I&C") and Art & Antiques ("A&A").

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting just under 86,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany. 

CAUTIONARY STATEMENT The announcement may contain forward-looking statements. These statements may relate to (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses or future prospects, and (ii) developments, expansion or business and management strategies of the Company. Forward-looking statements are identified by the use of such terms as "believe", "could", "should", "envisage", "anticipate", "aim", "estimate", "potential", "intend", "may", "plan", "will" or variations or similar expressions, or the negative thereof. Any forward-looking statements contained in this announcement are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialise, or if underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected, estimated or projected. No representation or warranty is made that any forward-looking statement will come to pass. Any forward-looking statements speak only as at the date of this announcement. The Company and its directors expressly disclaim any obligation or undertaking to publicly release any update or revisions to any forward-looking statements contained in this announcement to reflect any change in events, conditions or circumstances on which any such statements are based after the time they are made, other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority). Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.