ADVFN PLC Corporate update (6671W)

TIDMAFN

RNS Number : 6671W

ADVFN PLC

19 August 2022

19 August 2022

For immediate release

ADVFN PLC

(" ADVFN " or the "Company")

Corporate Update

As announced on 8 August 2022, Lord Gold, a non-executive director of the Company, has now become non-executive Chairman of the Company. Amit Tauman, a non-executive director has also been appointed an executive director. Following these latest appointments, the Board composition is as now as follows:

 
 Lord Gold            Non-executive Chairman 
 Jon Mullins          Acting Chief Executive 
 Matt Collom          Executive Director (sales) 
 Amit Tauman          Executive Director 
 Anthony Wollenberg   Non-executive Director 
 

The Company's Board committees have also been reconstituted as follows:

 
 Audit Committee          Lord Gold (Chair), Anthony Wollenberg 
 Remuneration Committee   Lord Gold (Chair), Anthony Wollenberg, 
                           Jon Mullins, Amit Tauman 
 

As previously announced, the Company cancelled all share options held by directors (including those held by former director Michael Hodges) amounting to 1,251,473 options. In addition, Jon Mullins and Matt Collom have agreed revisions to their service agreements with reduced notice periods of a maximum of 14 weeks and a re-balancing between fixed and performance-based remuneration, thereby further aligning their interests with the Company's shareholders. The Board has appointed external consultants to advise more generally on directors' fees and remuneration.

Enquiries:

For further information please contact:

 
 ADVFN PLC 
  Jonathan Mullins                      [phone] 
 Beaumont Cornish Limited (Nominated 
  Adviser) 
  www.beaumontcornish.com 
 Roland Cornish/Michael Cornish         [phone] 
 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Jon Mullins, Director.

A copy of this announcement will be available on the Group's website:

www.advfnplc.com

ENDS

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END

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(END) Dow Jones Newswires

August 19, 2022 11:15 ET (15:15 GMT)