Tap Global Group Plc Appointment of Chairman and Award of Options

 
TIDMTAP 
 
23 May 2023 
 
                             Tap Global Group Plc 
 
                           ("Tap" or the "Company") 
 
                            Appointment of Chairman 
 
                                       & 
 
                               Award of Options 
 
 Leading Financial Technology and Payments Executive David Hunter Joins Tap as 
                                   Chairman 
 
Tap Global Group Plc (AQSE: TAP), the regulated crypto app bridging the gap 
between traditional finance and blockchain technology, is pleased to announce 
the appointment of David Hunter as Non-Executive Chairman with effect from 1 
June 2023. Current Non-Executive Chairman, John Taylor, will remain on the 
Company's board as a Non-Executive Director. 
 
David is an experienced executive with a track record of building and leading 
disruptive financial services businesses into profitability and sustained 
growth. Becoming Director of BT's ePayments division in 2002, he possesses over 
20 years of senior and executive experience in financial services and payments. 
Throughout his career, David has placed a strong emphasis on innovation, 
regulatory compliance and commercial growth. 
 
After seven years at BT, latterly as Managing Director of Click and Buy Europe, 
in 2008 David became CEO of Paysafecard UK. In 2010, he became CEO of 
e-payments business, Ukash overseeing its pivot to profitability, four 
consecutive Queen's Enterprise Awards and its eventual sale to international 
private equity business, CVC Partners. Following the sale, David served as 
Chairman of several high-growth financial services businesses, including 
regulatory technology start-up W2 and Banking-as-a-Service platform, Pannovate. 
David has spent nearly 10 years on the board of The Payments Association, most 
recently as Chairman. 
 
At Tap, David will work alongside the board and directly with David Carr, Group 
CEO, Arsen Torosian, Group CSO and Kriya Patel, CEO designate of Tap Global 
Limited to oversee the business to profitability and sustainable growth, 
building on the Company's momentum since listing both in terms of user growth 
and breadth of offering.  He will also sit on the Remuneration and Audit 
Committees. 
 
Further information on David John Hunter (Aged: 57) 
 
Current Directorships                 Past Directorships (within the last 5 
                                      years) 
 
IMPACT CATALYST LTD                   Choice International Limited 
 
Helicity Limited 
 
Emerging Payments Ventures limited 
 
                                      Emerging Payments Limited 
 
                                      Parallel Payments UK LTD 
 
                                      Pannovate Limited 
 
                                      Andromeda Bridge Corporation Limited 
 
                                      KWI Group LTD 
 
                                      Change Account Limited 
 
                                      Mediaform Limited 
 
                                      W2 Global Data Solutions LTD 
 
                                      Shopalot LTD 
 
There is no further information regarding David John Hunter, that is required 
to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook. 
 
David John Hunter currently holds no ordinary shares and no options in Tap. 
 
Grant of Long-Term Incentive Plan Options ("LTIP Options") 
 
Tap has agreed to grant certain LTIP Options to David Hunter following his 
commencement of employment.  He will receive 500,000 LTIP Options which will 
vest on achievement of the Milestone 1 Revenue targets.  Once vested these will 
be exercisable at a price of 4.5p per option. In addition, he will receive 
500,000 Milestone 2 LTIP options which will be exercisable at the nominal share 
price. 
 
As announced previously (Admission Document 16 December 2022) the Milestone 
Revenue targets are: 
 
Milestone 1 - £4.2m of revenue at 30 June 2024 
 
Milestone 2 - £8m of revenue at 30 June 2024 
 
David Carr, Chief Executive Officer of Tap, commented: 
 
"David Hunter is a titan of the payments industry whom collectively we have 
known for many years. I am delighted he has agreed to join Tap as Chairman. He 
brings a wealth of experience and expertise to our business and will be a 
tremendous  asset to the team. I am confident that David will help us build on 
the success Tap has experienced during its early life as a publicly traded 
company. 
 
Following the appointment of Kriya Patel as CEO of the operating business we 
believe that Tap now possesses a world-beating team to continue our rapid 
acceleration and growth in an environment that will be dominated by regulated 
operators demonstrating keen Corporate Governance and a focus on delivering 
customers a trusted platform." 
 
David Hunter, Chairman designate of Tap, said: 
 
"I am delighted to be joining Tap at such an exciting time in its growth.  The 
Company has approached and weathered the considerable challenges in the wider 
crypto and payments environments in exactly the right way and as a result is 
primed to expand both geographically and commercially. Working alongside Kriya 
and the board to ensure this growth is executed in the most optimal way will be 
my strategic priority from day one, and I look forward to getting started in 
June." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
Enquiries: 
 
Tap Global Group Plc                                  Via Vigo Consulting 
David Carr, Chief Executive Officer 
 
Peterhouse Capital Limited (AQSE Growth Market        [phone] 
Corporate Advisor) 
Guy Miller/Narisha Ragoonanthun 
 
Vigo Consulting (Investor Relations)                  [phone] 
Ben Simons / Charlie Neish                            [e-mail] 
 
About Tap Global 
 
Tap is a fully regulated cryptocurrency app bridging the gap between 
traditional finance and blockchain technology. 
 
Through a single app, Tap's over 140,000 users can access several major 
cryptocurrency exchanges and, utilising Tap's proprietary Artificial 
Intelligence middleware, customers benefit from best-execution and pricing in 
real time. Through the Tap card, users can also convert their cryptocurrencies 
to fiat to spend at more than 37 million merchant locations worldwide. 
 
Tap is one of only a handful of unified solutions operators fully regulated to 
provide distributed ledger technology services and was the first cryptocurrency 
FinTech company approved by Mastercard in Europe. 
 
Learn more: www.withtap.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 23, 2023 02:00 ET (06:00 GMT)