ChallengerX Plc Changes in Leadership and Board Composition

 
TIDMCXS 
 
18 February 2022 
 
                                ChallengerX plc 
 
                       ("ChallengerX" or the "Company") 
 
                  Changes in Leadership and Board Composition 
 
The Company (AQSE: CXS) announces that John May, a UK Chartered Accountant, has 
been appointed as Non-Executive Chairman of the Company, effective immediately. 
John has significant experience and connections in the UK that will assist the 
Company with the execution of its strategic plan.  John May has been a 
practicing Chartered Accountant for over 40 years providing services across a 
broad range of clients from SMEs to PLCs of international repute. He was a 
Senior Partner in the leading Chartered Accountancy firm, now Crowe UK, for 17 
of those years, including 8 years on the Managing Board, where he was involved 
with developing marketing strategy in the capacity as National Marketing 
Partner, and the Chairman of the Thames Valley Offices for 9 years. More 
recently Mr. May has been in the board of companies which require his 
experience and corporate governance skills, particularly in relation to Audit 
Committee and statutory responsibilities. These companies are predominantly in 
the fintech, clean power, health-tech and ethical mining industries. Past 
directorships include Tomco Energy Plc, Petrolatina Energy Plc, Hayward Tyler 
Group Plc and London & Boston Investments. Current directorships include Pires 
Investments Plc, City & Westminster Corporate Finance LLP and Red Leopard 
Holdings Plc. 
 
Furthermore, Brian Connell, a Chartered Financial Analyst and the Company's 
Chief Financial Officer, will be assuming the role of Chief Executive Officer, 
effective immediately.  Previously, Brian was the Founder and CEO of venture 
backed StreetFusion, a fintech company based in San Francisco, CA. 
 
Lastly, the Company is taking the appropriate steps to unfreeze approximately ? 
660,000 of its funds held in the accounts of its wholly-owned French subsidiary 
SportsX SAS.  These funds were mistakenly frozen by the French authorities as 
part of an investigation into the Company's former CEO.  The Company has been 
advised that the process of unfreezing them is a simple procedural matter in 
France.  The Board believes that while it may take some time to complete this 
process it will ultimately be successful in having the funds unfrozen. 
 
The Company's bank accounts remain unaffected, however, and the Board is 
confident that the Company's current financial resources of over £550,000 are 
more than adequate for it to execute on its plans. 
 
AQSE Rule 4.09 - Directors' Details 
 
John May holds or has held the following directorships (including directorships 
of companies registered outside England and Wales) within the previous five 
years: 
 
Director      Current Directorships             Previous Directorships in the 
                                                last 5 years 
 
John May      Score Tek Limited                 Defence Assets Solutions Ltd 
              Mobcast Limited                   Hayward Tyler Group Pic 
              Coolcharm Gold Mining Co Ltd      Southbank UK Ltd 
              Major Broadcasting Corp Ltd       Specialist Energy Group 
              The Genesis Initiative Ltd        Trustee Ltd 
              The Small Business Bureau Ltd     Aero Optimal Ltd 
              Read 2 Write Limited              BRC-IT Ltd 
              Media World Networks Ltd          International Consolidated 
              Enterprise 24/7 Ltd               Minerals Ltd 
              The Time Traveller Company Ltd    City & Westminster 
              Nevada Gold Ltd                   Consultants LLP 
              Uniqorn Media Ltd                 Round Top Minerals Limited 
              Hemp.im Ltd                       Ionian Pello Tech Limited 
              XRApplied Ltd                     Desert Hawk Gold Corporation 
              Ignite Africa Ltd 
              M6 Limited 
              The Morani Preserve Ltd 
              The Morani Conservancy Ltd 
              Smart Toys Technologies Ltd 
              Silver Uniqorn Ltd 
              Outsize Capital Limited 
              Fitness Pods Ltd 
              The Genesis Initiative Africa Ltd 
              Global Osteoporosis Foundation 
              Pires Investments Plc 
              China Pub Companv Plc 
              Red Leopard Holdings Plc 
              Red Leopard Management Ltd 
              Harrell Hotels (Europe) Ltd 
 
John May: 
 
1.       does not have any unspent convictions in relation to indictable 
offences; 
 
2.       has not been a director of a company which has been placed in 
receivership, insolvent liquidation, administration, been subject to a 
voluntary arrangement or any composition or arrangement with its creditors 
generally or any class of its creditors whilst he was a director of that 
company or within the 12 months after he ceased to be a director of that 
company; 
 
3.       has not been a partner in any partnership which has been placed in 
insolvent liquidation, administration or been the subject of a partnership 
voluntary arrangement whilst he was a partner in that partnership or within the 
12 months after he ceased to be a partner in that partnership; 
 
4.       has not been the owner of any assets or a partner in any partnership 
which has been placed in receivership whilst he was a partner in that 
partnership or within the 12 months after he ceased to be a partner in that 
partnership; 
 
5.       has not been publicly criticised by any statutory or regulatory 
authority (including recognised professional bodies); or 
 
6.       has not been disqualified by a court from acting as a director of any 
company or from acting in the management or conduct of the affairs of a 
company. 
 
This announcement contains information which, prior to its disclosure, 
constituted inside information as stipulated under Regulation 11 of the Market 
Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). 
 
The directors of ChallengerX accept responsibility for this announcement. 
 
 
For further information please contact: 
 
ChallengerX plc 
 
Brian Connell, CFA, Finance         [e-mail] 
Director & CEO 
John May, Chairman                  [e-mail] 
 
First Sentinel 
 
Corporate Adviser                   [phone] 
Brian Stockbridge 
Gabrielle Cordeiro 
 
 
 
END 
 
 

(END) Dow Jones Newswires

February 18, 2022 06:10 ET (11:10 GMT)