Details for Circular and Notice of General Meeting

Mountfield Group Plc, the AIM quoted commercial flooring and specialist construction company, announces that it has today conditionally agreed to sell the entire issued share capital of Mountfield Building Group ("MBG") Limited and Connaught Access Flooring Holdings Limited ("Connaught"). The Company also announces a conditional placing of 1,569,620,253new ordinary shares of £0.001 each ("Placing Shares") at a price of £0.001975 per share to raise £3.1 million before expenses ("Placing").

The Proposed Sales will constitute a fundamental change of business of the Company under Rule 15 of the AIM Rules and is therefore conditional on the approval of Shareholders at a general meeting of the Company.

The Company will today post a circular to all Shareholders to convene a general meeting ("General Meeting") to be held at 11.00 a.m. on 2 March 2021. The circular can be downloaded here.