Argentex Group PLC Board Change (3205R)

TIDMAGFX

RNS Number : 3205R

Argentex Group PLC

26 October 2023

26 October 2023

Argentex Group PLC

("Argentex" or "the Company")

Board Change

Argentex Group PLC (AIM: AGFX), the service-led, tech-enabled provider of currency management and payment services to international institutions and corporates, announces that Harry Adams, Chief Executive Officer, has left the Company with immediate effect.

Jim Ormonde, has been appointed to act as Chief Executive Officer on an interim basis.

Previously, Mr Ormonde was CEO of Cardsave, one of Europe's largest independent payments businesses. He was also a director of Retail Merchant Services which was sold successfully to TCV Private Equity. He has acted as a consultant and adviser to various Fintech businesses, including Argentex, and is currently Chairman of Gusbourne plc, an AIM listed English wine producer.

Nigel Railton, Chairman, commented -

"We have recently conducted a review of Argentex's strategy and have identified a number of areas of focus to ensure the continued growth of the business. Jim is an experienced operator with a strong track record in successfully scaling technology businesses and I am pleased that he has agreed to step up and lead the team to start the important process of implementation."

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please contact:

Argentex Group PLC

Nigel Railton - Chairman

Jim Ormonde - Interim Chief Executive Officer

Jo Stent - Chief Financial Officer

[e-mail]

FTI Consulting (Financial PR)

Ed Berry / Ambrose Fullalove / Jenny Boyd

[e-mail]

07970 982 748

Singer Capital Markets (Nominated Adviser and Broker)

Tom Salvesen / James Maxwell / Justin McKeegan / Angus Campbell

020 7496 3000

Additional information

James Ormonde (aged 52) is, or has been, a director or partner of the following companies or partnerships during the previous five years:

 
 Current Directorships/Partnerships:   Previous Directorships/Partnerships 
                                        (last 5 years): 
 Gusbourne plc                         Anston Capital LLP 
 BlackDesk Consulting Limited          Anston Limited 
                                       Anstson Alpha Strategies LLP 
                                       RMS Holdco Limited 
 

Save as set out above there are no other disclosures in respect of the appointment of James Ormonde that are required to be made under Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

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END

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(END) Dow Jones Newswires

October 26, 2023 02:00 ET (06:00 GMT)