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RNS Number : 8048H
Argentex Group PLC
05 August 2019
5 August 2019
Argentex Group PLC
(the "Company" or "Argentex")
Appointment of Non-Executive Director and Changes to Board
Committees
Argentex Group PLC, the recently listed leading FCA regulated
provider of foreign exchange services to institutions, corporates
and high net worth private individuals, today announces the
appointment of Lena Wilson CBE FRSE as Senior Independent Director
and Chairwoman of the Nominations Committee.
Lena brings extensive experience to Argentex, from an
international career spanning over 60 countries, and both the
public and private sectors. She joins with an outstanding track
record of supporting and driving growth in businesses of all sizes,
and her hire is further evidence of Argentex's strategic ambitions.
She currently serves on the Board of The Royal Bank of Scotland
Group plc and a number of its subsidiaries, Intertek Group plc and
Scottish Power Renewables Ltd.
One of Scotland's best-known business leaders, Lena was Chief
Executive of Scottish Enterprise from 2009 until 2017, prior to
which she was Chief Executive Officer of Scottish Development
International, Scotland's international trade and investment arm.
As such, Lena has a deep understanding of the challenges and
opportunities facing UK businesses as they look to expand their
client-base internationally.
Lena was previously Senior Investment Advisor to The World Bank
in Washington DC, advising developing countries on foreign direct
investment and private sector development. Lena has also served as
a member of Scotland's Financial Services Advisory Board and as
Chair of Scotland's Energy Jobs Taskforce.
Lena joins Argentex's high profile and experienced non-executive
members of the board including: Non-Executive Chairman, Lord Digby
Jones; Nigel Railton, Independent Non-Executive Director; Henry
Beckwith, Non-Executive Director and Jonathan Gray, Independent
Non-Executive Director.
Harry Adams and Carl Jani, Co-CEOs of Argentex Group PLC said:
"We have long admired Lena's impressive career and are delighted to
announce that she is joining our Board of Directors. Her
international experience and outlook will be extremely valuable as
we embark on our next stage of growth as a listed company. Our
ability to attract market leading talent to Argentex is core to our
growth strategy, and Lena's appointment is testament to this
approach. We look forward to working with Lena and our highly
experienced Board to deliver long-term value to shareholders and
clients."
Lena Wilson added: "I am excited to join Argentex's Board as it
sets out on its path as a newly listed company. I was immediately
impressed by the management team and its entrepreneurial approach
and I look forward to working with the Board to help Argentex build
on its excellent track record, successful IPO and exciting growth
strategy."
Dr. Lena Cooper Wilson CBE FRSE (née Coyle) is 55 years old. A
full list of her current and past directorships held within the
last five years is provided below.
Current directorships (as of Past directorships (last 5 years)
5 August 2019)
The Royal Bank of Scotland Group NatWest Markets plc*
plc
----------------------------------
The Royal Bank of Scotland plc
----------------------------------
National Westminster Bank Plc
----------------------------------
NatWest Holdings Limited
----------------------------------
Ulster Bank Limited
----------------------------------
Intertek Group plc
----------------------------------
Scottishpower Renewable Energy
Limited
----------------------------------
*serving on the board from 1 January 2018 to 30 April 2018 on
the entity formerly named The Royal Bank of Scotland plc, prior to
being renamed and repurposed as NatWest Markets Plc on 29 April
2018.
Lena does not currently hold any shares in the capital of the
Company.
Save as disclosed above, there are no further disclosures
required to be made in respect of the appointment under Schedule
2(g) or Rule 17 of the AIM Rules for Companies.
Changes to Board Committees
In addition to Lena's appointment as a Non-Executive Director
and Chairwoman of the Nominations Committee, Lena has been
appointed as a member of the Audit and Remuneration Committees.
Nigel Railton will remain as Chairman of the Audit Committee and
Jonathan Gray as Chairman of the Remuneration Committee, with the
Board Committees continuing to be comprised of all Non-Executive
Directors save for the Audit Committee, in respect of which Lord
Digby Jones will no longer be a member.
For further information please contact:
Argentex Group plc
Harry Adams, Carl Jani (Co-CEOs)
Telephone: 0203 772 0331
FTI Consulting (Financial PR)
Ed Berry, Antonia Powell
Telephone: 0203 727 1485
argentex@fticonsulting.com
Numis Securities Limited (Nominated Adviser and Broker)
Stephen Westgate, Charlie Farquhar, Laura White, Hugo
Rubinstein
Telephone: +44 (0) 20 7260 1000
About Argentex Group PLC
Argentex is a UK-based foreign exchange service provider founded
in 2011 by its current senior management and Pacific Investments.
It operates as a Riskless Principal broker for non-speculative spot
and forward foreign exchange and structured financial derivative
contracts.
The Group delivers tailored foreign exchange advisory and
execution services to a global client base consisting principally
of institutions, corporates and high net worth private individuals.
It provides a personal client-led service, improved pricing and a
more efficient execution and settlement service than existing FX
service providers, such as banks and larger broker-dealers.
The business assists customers with foreign exchange
transactions which are related to genuine underlying business
needs. It does not engage in speculative trades for its clients,
nor does it offer margin trading, spread betting, CFDs or similar
products and it does not speculate with its own funds as
principal.
Since the business commenced trading in 2012, it has experienced
significant year-on-year growth in customers, transaction volumes
and revenue. Argentex has been profitable in every financial year
since incorporation. For the year ended 31 March 2019, Argentex
reported revenues of GBP21.9 million and operating profit of GBP9.4
million.
Argentex has a rigorous risk management culture and robust
compliance procedures. It is authorised and regulated by the FCA as
an Electronic Money Institution and is an IFPRU EUR125k Investment
Firm. Argentex only trades with Institutional Counterparties with
robust balance sheets, high credit ratings and sound capital
resources and performs rigorous KYC and AML checks prior to
accepting new clients.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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