TIDMNEO
RNS Number : 8062Z
Neovia Financial PLC
20 January 2011
Press release For immediate release
Thursday 20 January 2011
NEOVIA Financial Plc
("NEOVIA" or the "Company")
NEOVIA announces the conditional appointment of Joel Leonoff as
director of the Company
NEOVIA Financial Plc (AIM: NEO), the leading alternative
payments business, today announces the proposed appointment of Joel
Leonoff as an executive director of the Company,
Mr Leonoff joins the board of NEOVIA as a result of NEOVIA's
acquisition of the business of Optimal Payments, of which Mr
Leonoff is the founder, president and CEO. Mr Leonoff brings a
wealth of experience in both payment processing and online gaming
industries to NEOVIA. Mr Leonoff will become co-CEO of NEOVIA
alongside Mr Mark Mayhew, the Company's current President &
CEO, upon closing of the acquisition of Optimal Payments, the
online payments business and substantially all of the assets of
7012985 Canada Inc. ("OP Group").
Mr Leonoff has a proven track record as an entrepreneurial
leader and visionary, having served as CEO, COO and CFO of private
and publicly traded companies, and he has been integral in
developing corporate strategies for growth, managing operations,
and overseeing hundreds of employees, while providing a stable,
trusted voice as a seasoned financial leader.
Mr. Leonoff originally purchased the Sports and Entertainment
division from BCE Emergis, where he served as Senior Vice
President- Transaction Services, and founded SureFire Commerce Inc.
(renamed Terra Payments), a Canadian TSE--listed company, where he
served as COO and CFO and eventually as a board member and Chairman
of the audit committee. The company later merged with Optimal
Robotics, a NASDAQ--listed corporation to form Optimal Payments
Inc., a predecessor to OP Group.
Prior to his role at Optimal Payments, Mr Leonoff served from
May 2006 to May 2007 as Group Operations Director and Chief
Operating Officer of PartyGaming Plc, the UK public company that
provides online gaming services. Mr. Leonoff was responsible for
all operational areas and oversaw payment processing, product
management and business development at PartyGaming Plc.
Mr. Leonoff is a Chartered Accountant with a Bachelor of
Commerce Degree (James McGill Award) and a Graduate Diploma in
Public Accountancy (C.D. Mellor Award) from McGill University. He
was also recognized by the Globe and Mail's Canada Top 40 under 40
award, honouring Canadians for their vision, leadership,
innovation, achievement, and community involvement.
Enquiries:
NEOVIA Financial Plc
Andrew Gilchrist VP Communications + 44 (0) 1624 698 713
Email: investorrelations@neovia.com
Twitter: https://twitter.com/neovia
Citigate Dewe Rogerson + 44 (0) 207 638 9571
Sarah Gestetner / George Cazenove
Daniel Stewart & Co Plc + 44 (0) 207 776 6550
Paul Shackleton
* * * * *
About NEOVIA Financial
Trusted by consumers and merchants in over 160 countries to move
and manage billions of dollars each year, NEOVIA Financial Plc
operates the world's leading independent online payments business.
Through its Payment Suite, featuring NETELLER(R), NETBANX(R) and
Net+(TM) brands, NEOVIA specialises in providing innovative and
instant payment services where money transfer is difficult or risky
due to identity, trust, currency exchange, or distance. Being
independent has allowed NEOVIA to support thousands of retailers
and merchants in many geographies and across multiple
industries.
NEOVIA Financial Plc is quoted on the London Stock Exchange's
AIM market with a ticker symbol of NEO. Subsidiary company NETELLER
(UK) Limited is authorised by the Financial Services Authority
(FSA) to operate as a regulated e-money issuer. For more
information about NEOVIA Financial visit www.neovia.com or
subscribe at www.neovia.com/feeds/.
Further information in relation to Joel Leonoff's appointment as
a director of the Company, including details of his proposed
service contract with the Company, as required by AIM, are set out
below:
Proposed Director's Service Contract
It is proposed that Mr Leonoff will enter into a service
contract with the Company on completion of the acquisition of the
online payments business and substantially all of the assets of
7012985 Canada Inc. ("OP Group") by the Company announced today.
The agreement is terminable on 12 months' notice by the Company and
6 months' notice by Mr Leonoff. Mr Leonoff will receive a basic
salary of US$ 500,000 per annum and be eligible for a cash
performance bonus of up to 100% of base salary and participation in
the Company's long term incentive plan up to 150% of base salary,
on similar terms as other members of NEOVIA's executive team. Mr
Leonoff is indemnified in relation to any liabilities arising as a
director of the Company (or as director of any other company in the
NEOVIA Group).
Current and past directorships
Joel Leonoff (age 47) holds, and has during the five years
preceding the date of this announcement held, the following
directorships and partnerships, other than of the Company:
Current directorships/partnerships Past directorships/partnerships
partnerships (held in last five years)
OPC Payments Inc. (US) Madacy Entertainment Income Fund
Media Survivors, Inc. (also known
as Stock-Trak Group Inc. and Neutron
Enterprises Inc.)
Card One Plus Ltd
2962594 Canada Inc.
All of the above companies or partnerships are Canadian unless
otherwise stated.
There are no further disclosures to be made in accordance with
Schedule 2(g) of the AIM Rules.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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