Princess Private Equity Holding Limited announced that Richard Battey, who has served as Chair since August 2018 and a Princess board member for 13 years, did not stand for re-election at today's Annual General Meeting. The Board wish to thank Mr. Battey for his long-standing service to the Company. Ms. Carvill has become Interim Chair with immediate effect following the recent announcement by two Board nominees of the withdrawal of their nomination to the Board of Directors.

The Board of Directors has initiated the necessary measures to identify and recruit a successor Chair and an additional non-executive director. The Company will work towards attracting highly qualified individuals with the necessary skills and experience to provide effective leadership in the Boardroom. The Board remains committed to ensuring a smooth succession process and maintaining the highest standards of governance and accountability to all stakeholders.

The Board also acknowledges the results of the AGM voting regarding the significant votes against Mr. von der Forst's reappointment which it understands relates to his extended tenure. Ms. Wheatley has been appointed Chair of the Audit & Risk Committee also with immediate effect. The Board will consult with investors and communicate further plans to the market in due course.