Tap Global Group Plc Appointment of Chairman and Award of Options
May 23 2023 - 2:00AM
UK Regulatory
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 +44 (0)20 220 9795
Corporate Advisor)
Guy Miller/Narisha Ragoonanthun
Vigo Consulting (Investor Relations) +44 (0)20 7390 0230
Ben Simons / Charlie Neish tapglobal@vigoconsulting.com
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
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