ChallengerX Plc Changes in Leadership and Board Composition
18 February 2022 - 10:10PM
UK Regulatory
TIDMCXS
18 February 2022
ChallengerX plc
("ChallengerX" or the "Company")
Changes in Leadership and Board Composition
The Company (AQSE: CXS) announces that John May, a UK Chartered Accountant, has
been appointed as Non-Executive Chairman of the Company, effective immediately.
John has significant experience and connections in the UK that will assist the
Company with the execution of its strategic plan. John May has been a
practicing Chartered Accountant for over 40 years providing services across a
broad range of clients from SMEs to PLCs of international repute. He was a
Senior Partner in the leading Chartered Accountancy firm, now Crowe UK, for 17
of those years, including 8 years on the Managing Board, where he was involved
with developing marketing strategy in the capacity as National Marketing
Partner, and the Chairman of the Thames Valley Offices for 9 years. More
recently Mr. May has been in the board of companies which require his
experience and corporate governance skills, particularly in relation to Audit
Committee and statutory responsibilities. These companies are predominantly in
the fintech, clean power, health-tech and ethical mining industries. Past
directorships include Tomco Energy Plc, Petrolatina Energy Plc, Hayward Tyler
Group Plc and London & Boston Investments. Current directorships include Pires
Investments Plc, City & Westminster Corporate Finance LLP and Red Leopard
Holdings Plc.
Furthermore, Brian Connell, a Chartered Financial Analyst and the Company's
Chief Financial Officer, will be assuming the role of Chief Executive Officer,
effective immediately. Previously, Brian was the Founder and CEO of venture
backed StreetFusion, a fintech company based in San Francisco, CA.
Lastly, the Company is taking the appropriate steps to unfreeze approximately ?
660,000 of its funds held in the accounts of its wholly-owned French subsidiary
SportsX SAS. These funds were mistakenly frozen by the French authorities as
part of an investigation into the Company's former CEO. The Company has been
advised that the process of unfreezing them is a simple procedural matter in
France. The Board believes that while it may take some time to complete this
process it will ultimately be successful in having the funds unfrozen.
The Company's bank accounts remain unaffected, however, and the Board is
confident that the Company's current financial resources of over £550,000 are
more than adequate for it to execute on its plans.
AQSE Rule 4.09 - Directors' Details
John May holds or has held the following directorships (including directorships
of companies registered outside England and Wales) within the previous five
years:
Director Current Directorships Previous Directorships in the
last 5 years
John May Score Tek Limited Defence Assets Solutions Ltd
Mobcast Limited Hayward Tyler Group Pic
Coolcharm Gold Mining Co Ltd Southbank UK Ltd
Major Broadcasting Corp Ltd Specialist Energy Group
The Genesis Initiative Ltd Trustee Ltd
The Small Business Bureau Ltd Aero Optimal Ltd
Read 2 Write Limited BRC-IT Ltd
Media World Networks Ltd International Consolidated
Enterprise 24/7 Ltd Minerals Ltd
The Time Traveller Company Ltd City & Westminster
Nevada Gold Ltd Consultants LLP
Uniqorn Media Ltd Round Top Minerals Limited
Hemp.im Ltd Ionian Pello Tech Limited
XRApplied Ltd Desert Hawk Gold Corporation
Ignite Africa Ltd
M6 Limited
The Morani Preserve Ltd
The Morani Conservancy Ltd
Smart Toys Technologies Ltd
Silver Uniqorn Ltd
Outsize Capital Limited
Fitness Pods Ltd
The Genesis Initiative Africa Ltd
Global Osteoporosis Foundation
Pires Investments Plc
China Pub Companv Plc
Red Leopard Holdings Plc
Red Leopard Management Ltd
Harrell Hotels (Europe) Ltd
John May:
1. does not have any unspent convictions in relation to indictable
offences;
2. has not been a director of a company which has been placed in
receivership, insolvent liquidation, administration, been subject to a
voluntary arrangement or any composition or arrangement with its creditors
generally or any class of its creditors whilst he was a director of that
company or within the 12 months after he ceased to be a director of that
company;
3. has not been a partner in any partnership which has been placed in
insolvent liquidation, administration or been the subject of a partnership
voluntary arrangement whilst he was a partner in that partnership or within the
12 months after he ceased to be a partner in that partnership;
4. has not been the owner of any assets or a partner in any partnership
which has been placed in receivership whilst he was a partner in that
partnership or within the 12 months after he ceased to be a partner in that
partnership;
5. has not been publicly criticised by any statutory or regulatory
authority (including recognised professional bodies); or
6. has not been disqualified by a court from acting as a director of any
company or from acting in the management or conduct of the affairs of a
company.
This announcement contains information which, prior to its disclosure,
constituted inside information as stipulated under Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The directors of ChallengerX accept responsibility for this announcement.
For further information please contact:
ChallengerX plc
Brian Connell, CFA, Finance brian@challengerx.io
Director & CEO
John May, Chairman john@jjmay.co.uk
First Sentinel
Corporate Adviser +44 7876 888 011
Brian Stockbridge
Gabrielle Cordeiro
END
(END) Dow Jones Newswires
February 18, 2022 06:10 ET (11:10 GMT)
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