Orchard Funding Group PLC Director Appointment (0439W)

TIDMORCH

RNS Number : 0439W

Orchard Funding Group PLC

06 February 2017

Orchard Funding Group PLC

("Orchard Funding Group" or the "Company")

Appointment of Non-Executive Director

Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce the appointment of Mr Iacovos Koumi, as a Non-Executive Director of the Company, with immediate effect.

Mr Koumi has over 35 years of experience in the financial services sector. Mr Koumi spent 16 years at Bank of Cyprus UK, joining as chief financial officer and later being appointed as chief executive, where he led the transformation and modernisation of the bank and oversaw the broadening of its deposit base. Mr Koumi also served as group finance director at Ansbacher investment banking group for a period of five years, where he was responsible for strategy, finance, risk management and systems. Prior to that he was a corporate finance director at Ansbacher, advising smaller quoted companies in various sectors on takeovers, disposals, listings, fundraisings and reconstructions. By profession he is a chartered accountant, having qualified at KPMG in London. Mr Koumi is currently a strategic consultant, predominately within the financial services sector, and he serves on the boards of a number of companies, including NETinfo Plc and SME Markets Limited.

Ravi Takhar, Chief Executive Officer of Orchard Funding Group, commented:

"We are pleased to welcome Iacovos to the Board. With his banking and financial experience Iacovos will be able to help the Company in exploring options for further development of the business, which may include seeking a banking licence to broaden the Company's funding base."

The following disclosures are required regarding the appointment of Iacovos Koumi, aged 59, pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:

 
 Current directorships           Previous directorships 
  and partnerships:               and partnerships: 
 NETinfo Plc (incorporated       Bank of Cyprus UK Limited 
  in Cyprus)                      Bank of Cyprus Financial 
  SME Markets Limited             Services Limited 
  AllPay Limited (incorporated    Thermocore Medical Limited 
  in Cyprus) 
  Exposure Organisation 
  Limited 
 

There is no further information disclosable in respect of Mr Koumi's appointment, pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information:

Orchard Funding Group PLC [phone]

Ravi Takhar, Chief Executive Officer

finnCap Limited (Nomad and Broker) [phone]

Jonny Franklin-Adams (Corporate Finance)

Emily Watts (Corporate Finance)

Tim Redfern (Corporate Broking)

For Investor Relations please go to: www.orchardfundinggroupplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 06, 2017 02:00 ET (07:00 GMT)