Directorate Change

Following the announcement on 10 February 2017, George Earle has today stepped down as a director of PayPoint plc.  He will remain an employee for a number of months during 2017/18 to provide assistance with the completion of a number of outstanding projects, including the year-end reporting process.

No termination payments will be made. George will continue to receive fixed pay on a monthly basis during his limited period of employment although he will not be eligible for an annual bonus in respect of 2017/18 or future LTIP awards. To the extent that performance targets are met, he will be eligible to receive his annual bonus for the year ending 31 March 2017, payable at the normal payment date in cash, although any amount that would have been deferred into shares will remain subject to clawback.

Unvested deferred annual bonus, DSB matching and LTIP awards will continue to vest at the normal vesting date subject to time pro-rating and, in respect of the DSB matching and LTIP awards, the extent to which the performance targets are met. The time pro-rating calculation will be based on the period of the respective vesting periods the individual has served as an Executive Director (i.e. until 31 March 2017, so no time pro-rating credit will be given for the subsequent employment period).

The relevant remuneration details relating to George Earle will be included in the Directors' Remuneration Report in the Annual Report and Accounts for the year ended 31 March 2017.

In accordance with section 430(2B) of the Companies Act 2006, the information contained in this document will be made available on the Company's website until the Company's next Directors' Remuneration Report is made available.