TIDMFLX
RNS Number : 1666D
Falanx Group Limited
18 October 2022
Falanx Group Limited
("Falanx", "Group" or "the Company")
Directorate Changes
Falanx Group Limited (AIM: FLX), the AIM listed provider of
cyber security services, is pleased to announce the appointment of
William Kilmer as an independent Non-Executive Director and Richard
"Rick" Flood as an Executive Director and with immediate
effect.
William Kilmer is an entrepreneur, venture capital investor, and
author who has helped found and invest in dozens of companies
around the world over his twenty-five-year career in the technology
industry. He is currently a senior advisor for investments and
company building at Gallos, an investor in the security technology
sector. He was previously the managing partner of C5 Capital, a
specialist venture capital fund investing in cyber security, cloud
infrastructure, applied data analytics, and space economy companies
until March 2022. He has been founder and CEO of several
cybersecurity and data analytics companies, formed a wireless
operator in the UK, and has served on the board of several
technology companies and other organizations. William previously
served as the managing director of Intel Capital, a corporate
venture capital fund where he managed European investments and
formed a targeted venture fund to invest in the Middle East and
North Africa. William will chair Falanx's audit committee.
Rick Flood has been with Falanx Cyber for just over 5 years,
becoming its Managing Director in 2019. Since taking responsibility
for this division, Rick has been instrumental in driving the
transformation from old to new technologies, the division's
subsequent return to profitability in H1 FY22, and the current
investment in growth. He is a veteran of the software and
technology space and an advocate of SaaS/Cloud adoption for 15+
years. Rick initially trained as an accountant in industry with
CIMA and soon switched to the software sector and ultimately to
sales and marketing, spanning more than 30 years and a variety of
roles including executive positions in both private and public
companies. Rick has worked extensively with high growth and
early-stage enterprises, predominantly in the software sector. He
has also worked with stakeholders in various corporate recovery
roles with undertakings in distress and turnaround situations. His
previous AIM experience was with Earthport, Host Europe and Pipex,
where he first worked with Mike Read.
Alex Hambro, Chairman commented
"I am delighted that William has joined Falanx. He has extensive
experience in the cyber security sector in both investor and
operational roles and so can practically support the development of
our cyber security business, as well as providing further corporate
governance expertise. We are also pleased to welcome Rick to the
board. Rick possesses long-held expertise in delivering contract
wins and revenue growth and has made a huge impact on the expansion
of Falanx's pipeline of new client opportunities"
In accordance with Schedule 2(g) of the AIM Rules, William
Edward Kilmer, aged 57, holds or has held in the past five years
the following directorships and partnerships:
Current Directorships Directorships within last 5
years
- ITC Global Security Limited
--------------------------------
ITC Global Security Investments
Limited
--------------------------------
C5 Capital Limited
--------------------------------
C5 Solutions Inc
--------------------------------
Blue Cedar LLC
--------------------------------
Oomnitza Inc
--------------------------------
Synack Inc
--------------------------------
Hazelcast
--------------------------------
Constella Intelligence
--------------------------------
C5 Accelerate
--------------------------------
Haven Cyber Technologies
--------------------------------
There is no further information required to be disclosed in
respect of the appointment of William Kilmer pursuant to Rule 17
and Schedule 2 (g) of the AIM Rules for Companies.
In accordance with Schedule 2(g) of the AIM Rules, Richard
Andrew Flood, aged 62, holds or has held in the past five years the
following directorships and partnerships:
Current Directorships Directorships within last 5
years
Falanx Cyber Holdings Limited Football Insights Limited
--------------------------------
Software Solutions For Business
Falanx Cyber Security Limited Limited
--------------------------------
Falanx Cyber Defence Limited
--------------------------------
Securestorm Limited
--------------------------------
Falanx Cyber Technologies Limited
--------------------------------
Rick Flood has previously worked on behalf of debt and equity
investors in distress and turnaround situations. Consequently,
there is an inherent risk of corporate failure and despite
achieving successful results in many cases, there have been the
following situations where the business has been through an
insolvency process or scheme of arrangement.
Rick Flood was a director of Xrio Limited, which entered into a
voluntary creditor's liquidation on 10 March 2014. The estimated
deficiency as regards members at 10 March 2014 was
GBP247,769.66.
Rick Flood was a director of JSA Services Limited, which entered
into a CVA on 30 November 2009. It was completed on 31 May 2011 and
the company continues to trade.
Rick Flood was a director of 101010 Limited, which entered into
a voluntary creditor's liquidation on 7 April 2004. The estimated
deficiency as regards members at 7 May 2004 was
GBP1,265,050.00.
Rick Flood is the beneficial owner of 1,809,702 ordinary shares.
He also has the following interest in share options over ordinary
shares;
-- 5,000,000 share options which were granted on 25 September
2019 with an exercise price of 1.925 pence per share.
-- 4,999,200 share options which were granted on 21 April 2020
with an exercise price of 1 penny per share.
Rick Flood entered into personal bankruptcy in March 2015 and
was discharged one year later, having fully satisfied creditor
obligations.
There is no further information required to be disclosed in
respect of the appointment of Rick Flood pursuant to Rule 17 and
Schedule 2 (g) of the AIM Rules for Companies.
Enquiries:
Falanx Group Limited Via IFC
Alex Hambro Chairman
Mike Read CEO
Ian Selby CFO
WH Ireland Limited
Mike Coe/ Sarah Mather (Nomad)
Joanna Hunt (Corporate Broking) + 44 (0) 207 220 1666
IFC Advisory Ltd
Financial PR & IR
Graham Herring / Zach Cohen +44 (0) 203 934 663
About Falanx
Falanx Group Limited, is a cyber defence provider providing
enterprise class defensive and offensive security
solutions to SME. For further information: http://www.falanx.com/
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END
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