In accordance with section 430(2B) of the Companies Act 2006, the arrangements set out below, which are in line with Company’s current Remuneration Policy and have been approved by the Company's Remuneration Committee, apply in respect of Stefan Allanson’s remuneration following his cessation.
Further to the announcement on 5 October 2026, MJ Gleeson plc confirms that Stefan Allanson ceased to be a Director of the Company and his employment with the Group ended on 16 October 2026. Stefan received his salary and contractual benefits up to and including 16 October 2026, together with payment in respect of accrued but untaken holiday as at that date.
In accordance with his Service Agreement, Stefan will receive a payment in lieu of his unserved 12-month notice period of £370,640 less salary already paid in respect of the period between 5 October and 16 October 2026. This will be paid in monthly instalments over the remainder of his 12-month notice period and will be subject to normal deductions of tax and national insurance contributions.
Stefan will also receive:
• a payment of £13,000 in lieu of the car allowance that would have been payable during his 12-month notice period, less any amount already paid in respect of the period between 5 October and 16 October 2026;
• continued private medical insurance until 15 October 2027;
• a payment of £23,508 into his pension scheme in lieu of employer pension contributions during the notice period, less any contributions already made in respect of the period between 5 October and 16 October 2026;
Stefan Allanson will remain eligible for a bonus in respect of the financial year ending 30 June 2027, pro-rated to 16 October 2026. The amount of any bonus will be determined by the Remuneration Committee following the announcement of the Company’s audited results for that financial year, by reference to the applicable performance conditions and the terms of the relevant bonus arrangements. No bonus will be payable in respect of any period following 16 October 2026.
The Remuneration Committee has determined that Stefan will be treated as a good leaver for the purposes of his outstanding long-term incentive and share incentive plan awards. His unvested awards will therefore continue until their normal vesting dates, or such earlier date as the Board may determine, and will remain subject to the relevant plan rules and applicable performance conditions. Any awards that vest will be exercisable in accordance with the relevant plan rules.
The Company has also provided outplacement support up to a value of £10,000, excluding VAT, and a contribution of up to £3,500, excluding VAT, towards the legal fees incurred in connection with his departure.
Other than the above, no other remuneration payment, including for ‘loss of office’ has been or will be paid to Stefan Allanson after the termination date.
The Director’s Remuneration Report for the Company for the financial year ending 30 June 2027 will include full details of the remuneration earned by Stefan as an Executive and his payments upon cessation as a Director.
3 November 2026
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