Ceps: Acquisition of A J Sharp Limited by Aford Awards

28 September 2026

CEPS PLC

("CEPS" or the "Company")

Acquisition of A J Sharp Limited by Aford Awards

CEPS announces that, on 25 September 2026, Aford Awards Group Holdings Limited ("AAGHL"), a 75% owned subsidiary of CEPS, acquired the entire issued share capital of A J Sharp Limited (the "Acquisition"), through a newly incorporated company. The total consideration for the Acquisition, on a cash-free, debt-free basis is £3,450,000, comprising £2,740,000 in cash payable on completion and £710,000 of vendor loan notes, which bear interest at a rate of 6% per annum.

AAGHL is subscribing for £2,800,000 of acquisition loan notes, which bear interest at a rate of 7% per annum. The acquisition loan notes are subordinated to the vendor loan notes.

The consideration has been satisfied from CEPS' existing cash resources, in the form of an unsecured loan from CEPS to AAGHL.

A J Sharp Limited, trading as The English Pewter Company, is based in Sheffield and is a leading UK manufacturer of handcrafted pewter gifts and tableware. Founded in 1977, the family-run business combines traditional metalsmithing techniques with contemporary design to manufacture a range of products, including personalised and engraved gift sets, tankards, hip flasks and a wide range of decorative homeware.

As at 31 December 2025, A J Sharp Limited had unaudited net assets of £847,970. For the financial year ended 31 December 2025, the company generated unaudited revenue of £3.2 million and an unaudited profit before tax of £326,932.

Following completion, a number of non-continuing costs are expected to be removed from the business. On this basis, the Board estimates that A J Sharp Limited generated adjusted 'normalised' EBITDA of approximately £690,000 for the financial year ended 31 December 2025.

 This "bolt-on" acquisition aligns with CEPS' value creation strategy for shareholders.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The directors of the Company accept responsibility for the content of this announcement.

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