Arnold Goldstone has notified the board of his intention to take early retirement as Invicta's Chief Executive Officer and executive director and relocate abroad after nearly 30 years of service with the Group. Arnold will continue in his current position until 31 December 2019 ("Early Retirement Date") in order to ensure a smooth handover. Arnold has agreed to continue as the non-executive chairman of Kian Ann Engineering, Invicta's Singaporean subsidiary, from 1 January 2020 to assist the Group with growth in South East Asia.

He has also confirmed his willingness and availability to serve Invicta in other capacities after his Early Retirement Date if required by the board. The board confirmed that Invicta executive director, Anthony (Tony) Sinclair, the Chief Executive Officer of Invicta's Capital Equipment Group ("CEG"), has agreed to continue in his current role following his mandatory retirement in July 2019. Tony has been with CEG for 35 years and his continued service as the CEO of CEG ensures that his skills and knowledge can contribute to the continuity of growth and success of CEG.

Invicta's Engineering Solutions Group ("ESG") has been materially strengthened by the appointment of Robin Briggs as the new Managing Director to the BMG division of ESG with effect from 1 May 2019.