SCT - Resignation of Chief Financial Officer

Friday 22nd March 2024

Today Scott Technology (NZX: SCT ) announces that CFO, Cameron Mathewson, has resigned to take up another CFO role.

Mr McLauchlan noted “Earlier this week I announced that Scott Group CEO John Kippenberger had decided to step down at the end of May 2024 from his role leading the global company. With the departure of our CFO in the near future, John has offered to delay his departure as CEO and director. We will work through with John over the next few days the details of an appropriate transition that is in the best interests of the Scott Group. The board is grateful to John for his immediate offer to put his own plans on hold.”

“I want to stress that the two resignations are completely unrelated and in no way signal that there are any matters that are of concern to the board with the Scott Group’s performance. It is simply an unfortunate coincidence that the two senior resignations came in the same week”.

The Scott Group does not normally provide guidance however the half year results to the end of February are due to be announced on 16 April 2024. Under the circumstances the board determined it is appropriate to give an indication of the operational and financial performance that the business has achieved during the six months.

“The business has been performing well during the period and we are expecting to announce double digit growth at both the revenue and EBITDA level. Borrowing, depreciation and lease costs will be higher than for the same period last year due to the positive momentum of the Scott Group’s underlying growth and performance. The company continues to experience positive growth drivers across all core sectors. Further information will be provided when we announce the half year results” commented Mr McLauchlan.

ENDS

Resignation of Chief Financial Officer

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