26 October 2023
Argentex Group PLC
("Argentex" or "the Company")
Board Change
Argentex Group PLC (AIM: AGFX), the service-led, tech-enabled provider of currency management and payment services to international institutions and corporates, announces that Harry Adams, Chief Executive Officer, has left the Company with immediate effect.
Jim Ormonde, has been appointed to act as Chief Executive Officer on an interim basis.
Previously, Mr Ormonde was CEO of Cardsave, one of Europe's largest independent payments businesses. He was also a director of Retail Merchant Services which was sold successfully to TCV Private Equity. He has acted as a consultant and adviser to various Fintech businesses, including Argentex, and is currently Chairman of Gusbourne plc, an AIM listed English wine producer.
Nigel Railton, Chairman, commented -
"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. Jim is an experienced operator with a strong track record in successfully scaling technology businesses and I am pleased that he has agreed to step up and lead the team to start the important process of implementation."
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information, please contact:
Argentex Group PLC
Nigel Railton - Chairman
Jim Ormonde - Interim Chief Executive Officer
Jo Stent - Chief Financial Officer
investorrelations@argentex.com
FTI Consulting (Financial PR)
Ed Berry / Ambrose Fullalove / Jenny Boyd
07970 982 748
Singer Capital Markets (Nominated Adviser and Broker)
Tom Salvesen / James Maxwell / Justin McKeegan / Angus Campbell
020 7496 3000
Additional information
James Ormonde (aged 52) is, or has been, a director or partner of the following companies or partnerships during the previous five years:
| Current Directorships/Partnerships: | Previous Directorships/Partnerships (last 5 years): |
| Gusbourne plc | Anston Capital LLP |
| BlackDesk Consulting Limited | Anston Limited |
| | Anstson Alpha Strategies LLP |
| | RMS Holdco Limited |
Save as set out above there are no other disclosures in respect of the appointment of James Ormonde that are required to be made under Rule 17 or Schedule 2(g) of the AIM Rules for Companies.
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