Appointment of Independent Non-Executive Director

23 March 2021

Eleco plc

(“Eleco”, the “Company” or the “Group”)

Appointment of Independent Non-Executive Director

Eleco plc, the AIM quoted construction software specialist, is pleased to announce the appointment of Paul Boughton to the Board as an Independent Non-Executive Director of the Company with immediate effect.

Paul is currently Chair of Quartix Technologies plc, the telematics and vehicle analytics company, having joined in 2014 ahead of its successful IPO. Paul has 30 years of executive experience in identifying, negotiating and completing acquisitions in the USA and Europe. Paul spent thirteen years as Business Development Director for Spectris plc, and subsequently held similar positions at IMI plc, Consort Medical plc and Brammer plc. He was a Non-Executive director of London Bridge Software plc and Raymarine plc earlier in his career. Paul has a BSc in Business and Managerial Economics from the University of Hull and is a Fellow of the Institute of Chartered Accountants.

Commenting on his appointment, Paul Boughton said:

“I am delighted to be joining Eleco at such a pivotal and exciting time in its growth plans. I hope to contribute both to its financial and strategic development, particularly in international expansion.”

Serena Lang, Executive Chairman, commented:

“On behalf of the Board, I would like to welcome Paul as an Independent Non-Executive Director. Eleco will greatly benefit from the wealth of commercial, financial and M&A experience that he brings.  As Chair of Quartix Technologies plc Paul is also familiar with the QCA Code and has broad public company experience.

“Since I was asked to take over the role of Executive Chairman, following the resignation of my predecessor in September 2020, it has been one of our key priorities to strengthen our Board, whilst giving careful consideration to ensure we are bringing the right expertise, independence and support to Eleco. Paul’s extensive M&A experience, knowledge of the US, German and Scandinavian markets (as well as the UK) and of transitioning from a perpetual to a SaaS/recurring revenue model, will add tremendous value to the Board.

“Paul’s appointment is testament to Eleco’s rigorous commitment to making quality appointments that will complement the Board and support the Group’s long-term growth. Over the course of the next six months, the Board also plans to appoint another Independent Non-Executive Director to further strengthen the leadership team at Eleco.”

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the Architectural, Engineering, Construction and Owner/Operator (AECO) industries and interior furnishing industries from centres of excellence in the UK, Sweden, Germany, Netherlands and the US.

The Company’s market-leading Elecosoft software solutions are developed by teams in the United Kingdom, Sweden and Germany, and its solutions cover project management, estimating, timber engineering, CAD and visualisation, asset and facility management and cloud-based digital marketing solutions.

For further information please visit www.eleco.com.

Regulatory Disclosures:

The following information regarding the appointment of Paul Victor Boughton, age 65, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Mr Boughton has no shareholding in the Company.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.