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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cornerstone Fs Plc | LSE:CSFS | London | Ordinary Share | GB00BNG7CD28 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.50 | -1.30% | 38.00 | 37.00 | 39.00 | 38.50 | 38.00 | 38.50 | 105,784 | 14:02:37 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Catalog, Mail-order Houses | 4.82M | -5.61M | -0.0977 | -3.89 | 21.82M |
TIDMCSFS
RNS Number : 7290Q
Cornerstone FS PLC
30 June 2022
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
30 June 2022
Cornerstone FS plc
("Cornerstone" or the "Company" or the "Group")
Directorate Changes
Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces that Elliott Mannis, Non-Executive Chairman, has today informed the Company that, for personal reasons, he intends to step down from the Board with effect from 31 August 2022. Additionally, Stephen Flynn, an Executive Director and Chief Technology Officer, is resigning from Cornerstone Payment Solutions Ltd and is not seeking re-election as a Director of the Company.
Gareth Edwards, Non-Executive Director, will assume the role of Chairman of the Board following Elliott's departure. As previously announced, the Company is currently seeking to appoint an Independent Non-Executive Director to the Board who will also serve as Chairman of the Audit Committee. Bill Newton, Executive Director, will assume the duties of Chief Technology Officer alongside his current role of Chief Information Officer.
Elliott Mannis, Non-Executive Chairman of Cornerstone, said: "I am pleased to have been a part of the Cornerstone journey, achieving a number of strategic milestones in the period following our IPO. I leave the role of Chairman in the very capable hands of Gareth, whom I have worked with closely since my appointment. I believe that Cornerstone has an excellent offering and is well-positioned for sustained growth. I look forward to watching its progress."
Stephen Flynn, Chief Technology Officer of Cornerstone, commented: "Having been part of the team that has built the business from its infancy, prior to the acquisition by Cornerstone, I am very proud of what we achieved - from becoming a public company, to expanding globally and acquiring other FX businesses. Accordingly, I feel now is the right time for me to seek opportunities where I can use my experience and expertise to work other companies looking to produce innovative technologies."
Julian Wheatland, Chief Executive Officer of Cornerstone, added: "Elliott is a deeply valued member of the Cornerstone team and has offered tremendous support throughout his tenure as Chairman. Stephen, alongside Bill, has played an instrumental role in getting the platform to where it is today and building our strong technology offering. On behalf of the Board, I would like to thank them for their dedication to the Company and wish them all the best for the future."
Enquiries
+44 (0)203 971 Cornerstone FS plc 4865 Julian Wheatland, Chief Executive Officer Judy Happe, Chief Financial Officer +44 (0)203 368 SPARK Advisory Partners Limited (Nomad) 3550 Mark Brady, Neil Baldwin +44 (0)203 470 SP Angel Corporate Finance LLP (Broker) 0470 Jeff Keating, Harry Davies-Ball +44 (0)207 618 Luther Pendragon (Financial PR) 9100 Harry Chathli, Claire Norbury
About Cornerstone FS plc
Cornerstone FS plc is a payments focused fintech business that makes managing currency simple for SMEs. It provides international payment, currency risk management and electronic account services using a proprietary cloud-based multi-currency payments platform. These services are delivered directly and via white label partners on a SaaS basis to UK-based SMEs that engage in international trade. Cornerstone also serves some high-net worth individual clients.
Headquartered in the City of London with offices in Tunbridge Wells and Dubai, Cornerstone is admitted to trading on AIM under the trading symbol 'CSFS'. For more information, please visit www.cornerstonefs.com .
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June 30, 2022 02:01 ET (06:01 GMT)
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