Argentex Group PLC on Thursday announced that Chief Financial Officer Jo Stent has left its board effective immediately, but agreed to work until the company finds a suitable replacement.

Argentex shares fell 21% to 62.04 pence each on Thursday afternoon in London.

Two weeks ago, the international provider of foreign exchange services for institutions, corporates and high-net-worth private individuals announced that former chief executive officer Harry Adams stepped down, with Jim Ormonde becoming CEO on an interim basis.

In October, Chair Nigel Railton had said: ‘We have recently conducted a review of Argentex’s strategy and have identified a number of areas of focus to ensure the continued growth of the business.’

In September, the company had reported that in the first half of 2023, pretax profit grew 12% to £4.8 million from £4.3 million a year prior, as revenue climbed 28% to £25.0 million from £19.5 million. In its outlook, it had said that it traded in line with its own expectations for 2023.

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