Tungsten Corporation PLC Appointment of Chief Financial Officer (9484J)
17 Aprile 2020 - 08:00AM
UK Regulatory
TIDMTUNG
RNS Number : 9484J
Tungsten Corporation PLC
17 April 2020
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
17 April 2020
Appointment of Chief Financial Officer
Tungsten Corporation (AIM: TUNG) aims to be the leading global
electronic invoicing and purchase order transactions network and is
pleased to announce that Chris Allen will be joining the Board as
Chief Financial Officer on 27(th) April 2020.
As CFO, UK & Europe at Worldpay plc Chris provided finance
leadership of the market leading UK business unit. His role was
expanded to a wider European brief following the acquisition of
Worldpay by Vantiv Inc in January 2018. During this period he ran a
complex turnaround of a now profitable GBP1.3bn revenue business
within Worldpay. Prior to this, he was Finance Director at NOW TV;
Finance Director at LoveFilm International and Investor Relations
and Corporate Finance Manager at BSKYB plc.
Through his career he has focused on executing change delivery
and business transformation, debt funding, investor management and
acquisitions all within dynamic, consumer technology environments.
Chris is an ACA and read Modern History at Oxford.
Following Chris's appointment, Ian Kelly, Interim CFO, will
revert to his role as Group Financial Director.
Further details in respect of Chris Allen, as required pursuant
to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for
Companies, are as set out below.
Tony Bromovsky, Chairman of Tungsten said, "On behalf of the
Board I would like to welcome Chris to Tungsten. We are delighted
to have attracted someone of Chris's calibre who will be an
excellent long-term addition to the management team. We look
forward to welcoming Chris onto the Board."
Andrew Lemonofides, CEO of Tungsten said, "On behalf of the
company I am delighted that Chris is taking on this role at a
critical time for Tungsten, as we complete our "year of
transformation". I am confident that Chris will make a very
positive impact on the business and our Finance organisation. I
look forward to working closely with him."
Commenting on his appointment, Chris Allen added "I am very
excited to become CFO at this important time for the company. As a
leader in global electronic invoicing Tungsten has plentiful
long-term growth opportunities. I am looking forward to working
closely with the Board and management team as the electronic
invoicing market continues to go from strength-to-strength.
ENDS
Enquiries
Tungsten Corporation plc
Andrew Lemonofides, Chief Executive Officer +44 20 7280 6980
Canaccord Genuity Limited (Broker and Nominated
Adviser)
Simon Bridges/ Andrew Potts +44 20 7523 8000
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
About Tungsten Corporation plc
Tungsten Corporation (AIM: TUNG) aims to be the leading global
electronic invoicing and purchase order transactions network.
Digital invoicing processes enable large businesses to reduce
costs and effectively manage their businesses. They can improve
business agility by creating scalable and repeatable growth
processes, managing their cash effectively and making better
decisions based on a comprehensive analysis of their data.
Tungsten Network processes invoices for 74 percent of the FTSE
100 and 71 percent of the Fortune 500. It enables suppliers to
submit tax compliant e-invoices in 50 countries, and last year
processed transactions worth over GBP173bn for organisations such
as Caesars Entertainment, Computacenter, GlaxoSmithKline, Kraft
Foods, Mohawk Industries, Mondelēz International, Procter &
Gamble, Shaw Industries, Unilever and the US Federal
Government.
Forward looking statements
This document contains forward-looking statements that may or
may not prove accurate. For example, statements regarding expected
revenue growth and trading margins, market trends and our product
pipeline are forward-looking statements. Phrases such as "aim",
"plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. Any forward-looking statement is based on
information available to Tungsten as of the date of this statement.
All written or oral forward-looking statements attributable to
Tungsten are qualified by this caution. Tungsten does not undertake
any obligation to update or revise any forward-looking statement to
reflect any change in circumstances or in Tungsten's
expectations
Additional Information
Christiaan Thomas Allen, age 42, is currently or has been a
director of the following companies within the past five years:
Current directorships Previous directorships
None Yes-Secure.Com Limited
YESpay International Limited
Tayvin 346 Limited
Worldpay (UK) Limited
There are no further disclosures required in accordance with AIM
Rule 17 and Schedule Two paragraph (g) of the AIM Rules for
Companies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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