PCI-PAL PLC Board Changes (8809S)
11 November 2019 - 6:00PM
UK Regulatory
TIDMPCIP
RNS Number : 8809S
PCI-PAL PLC
11 November 2019
PCI-PAL PLC
("PCI Pal", "the Company" or "the Group")
Board Changes
PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that
secures and protects payment card data for companies handling
payments by phone, is pleased to announce Board changes in
preparation for the next phase of growth for the Group, which will
come into effect immediately following the Group's Annual General
Meeting on 21 November 2019.
Simon Wilson, a recently appointed Non-Executive Director with
significant international technology industry experience, will
succeed Chris Fielding as Chairman. Chris Fielding will remain on
the Board as a Non-Executive Director and will continue to be
Chairman of the Audit Committee. He will also succeed Jason Starr
as Senior Non-Executive Director. Jason Starr will continue to be
Chairman of the Remuneration Committee and a Non-Executive
Director.
Simon Wilson has served as a Director at several international
software companies including Endace PLC (AIM), Chairman at M86
Security, and Audit Committee Chair at Workshare. Simon has also
provided international growth, fund-raising and M&A consulting
services to a range of software companies including July Systems
and The Innovation Group PLC (AIM), resulting in consistent
improvements in returns for shareholders.
In addition, Simon has previously held CEO, CFO and Corporate
Development roles in a range of U.S. and U.K. B2B software
companies, including CFO of SurfControl PLC, the LSE-listed
Internet security company which was acquired by Websense (NASDAQ).
Prior to SurfControl, Simon was a partner in KPMG's U.S. Corporate
Finance Practice, where he specialised in providing advice on
corporate development strategy and M&A services to U.S. and
international software and IT services companies.
This re-alignment of Board roles will support PCI Pal in its
next stage of growth and in the delivery of its international
expansion strategy with the goal of becoming the preferred Cloud
solution provider that technology vendors globally turn to for
achieving PCI compliance for payments by phone.
Chris Fielding, Chairman said:
"The Group has come a long way since I took on the role of
Chairman in 2015. We have re-engineered the Group to focus on our
payment security business; launched the first true-Cloud, globally
accessible platform in our space; re-financed the Group, bringing
in new shareholders and strengthening the balance sheet; and have
created a core structure to this fast growing business that has
firmly established itself in the U.K. and U.S.
"Looking to the future, the Group will continue to expand, not
only in the U.S., but in other international markets and the Board
now believes that we need a person with extensive international,
SaaS solution, experience to ensure we deliver on the exciting
opportunity we have in front of us."
James Barham, Chief Executive Officer added:
"On behalf of the Board I want to thank Chris for his leadership
over the term of his Chairmanship since 2015. In particular, Chris'
guidance was invaluable as PCI Pal transitioned from an outsourced
service provider for call centres, to a Cloud-based solution
provider partnering with many of the world's leading technology
vendors.
"As a pure-play Cloud software vendor expanding in multiple
international regions, now is the right time to add additional
industry experience to the Board to help PCI Pal along its journey.
Simon's background includes 30 years of operating, advisory and
board positions in international B2B software companies. Together
with his extensive experience in international expansion and
cross-border M&A, Simon is a great addition to the Board, and
we all welcome him to the role of Chairman."
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
For further information, please contact:
PCI-PAL PLC Via Walbrook PR
James Barham - Chief Executive
Officer
William Good - Chief Financial
Officer
finnCap (Nominated Adviser and
Broker) +44 (0) 20 7227 0500
Marc Milmo/Simon Hicks (Corporate
Finance)
Richard Chambers (Corporate Broking)
Walbrook PR +44 (0) 20 7933 8780
Tom Cooper/Paul Vann +44 (0) 797 122 1972
tom.cooper@walbrookpr.com
About PCI Pal:
PCI Pal is a specialist provider of secure payment solutions for
contact centres and businesses taking Cardholder Not Present (CNP)
payments. PCI Pal's globally accessible cloud platform empowers
organisations to take payments securely without bringing their
environments into scope of PCI DSS and other card payment data
security rules and regulations.
With the entire product portfolio served from PCI Pal's cloud
environment, integrations with existing telephony, payment, and
desktop environments are light-touch, ensuring no degradation of
service while achieving security and compliance.
PCI Pal has offices in London, Ipswich (UK) and Charlotte NC
(USA). For more information visit www.pcipal.com or follow the team
on Twitter: https://twitter.com/PCIPAL
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contact rns@lseg.com or visit www.rns.com.
END
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