Following the migration of the Group Finance function from Guernsey to Jersey, Emma Stubbs, the Group's Chief Financial Officer, has decided to step down from the Board and leave the Sancus Lending Group Limited. It is intended that Emma will remain with the business until 31 March 2023 to effect an orderly handover. Emma joined Sancus in 2013 and has played an important role in the planning of the Company's turnaround strategy.

The Board would like to thank Emma for her hard work and commitment and wish her well in her future endeavours. Following Emma's departure, Tracy Clarke will be appointed as the Group's Interim Chief Financial Officer, for an initial period of 12 months. Tracy, who has been a non-executive Director of the Company since March 2022, is a Fellow of the Institute of Chartered Accountants in England and Wales and holds the CISI Investment Advice Diploma.

Tracy is currently Managing Director of Carlton Management Services Limited ("Carlton"), a licensed Jersey Trust Company business which provides administration and finance services to clients including the Somerston Group (the Company's largest shareholder). It is currently envisaged that Carlton will be appointed to augment and support the development of the Group's finance function, including new technology integrations for forecasting, performance and treasury management and reporting. It is ultimately the intention of the Board to appoint a permanent CFO in due course and intends to review these arrangements in 12 months.