TIDMTUNG

RNS Number : 8729A

Tungsten Corporation PLC

30 December 2014

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

For Immediate Release 30 December 2014

Tungsten announces change to its Board

London, 30 December 2014 - Tungsten Corporation plc ("Tungsten") today announced Michael Spencer will step down from its Board as a non-executive director, effective 31 December 2014.

Michael Spencer said: "When I joined the Board in early 2012, I envisaged staying for as long as it took to see Tungsten deliver on its strategy. Following the recent announcement of the relationship with Insight Investment Management, which supports Tungsten with very significant resources to finance its invoice discounting activities, and given my other commitments, now would seem an appropriate time for me to step down. As a shareholder, I look forward to Tungsten's continuing success."

Nol Hoevenaars, Chairman of Tungsten, and Edmund Truell, Tungsten CEO, said: "On behalf of the Board, we would like to thank Michael for his support as a founder investor in and Board member of Tungsten; and for his counsel since we set up Tungsten and put in place the strategy on which we are now executing, and we wish him well."

Enquiries:

Tungsten Corporation plc

   Edmund Truell, Chief Executive Officer                                +44 20 3435 5680 
   Juliana Wheeler, Head of Global Communications          +44 20 7280 7973

Charles Stanley Securities

(Nominated Adviser and Joint Broker)

   Marc Milmo/Dugald Carlean                                                      +44 20 7149 6000

Canaccord Genuity Limited

(Joint Broker)

   Simon Bridges/Peter Stewart/Cameron Duncan               +44 20 7523 8000

Equus Group (Communications)

   Piers Hooper/Sam Barton                                                            +44 20 7223 1100

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoice network, can reduce their invoice-processing costs. Tungsten helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data; improve their compliance; and manage their suppliers with its disruptive procurement tools. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers Tungsten Early Payment supply chain financing on a global basis.

Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It estimates that its buyers transact over $2.7 trillion of addressable spend annually. The Tungsten Network enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.

Tungsten Corporation joined forces with OB10 in October 2013 to create the world's largest electronic trading network; and acquired DocuSphere in September 2014, a provider of workflow automation solutions.

Tungsten Early Payment enables suppliers to be paid for invoices when they need it. Suppliers select the invoice and payment date and Tungsten pays the invoice amount minus a discount charge. This integrated invoice finance offering has been designed with Tungsten Network suppliers in mind and provides a low cost and easy-to-access alternative to traditional forms of bank finance.

Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.

juliana.wheeler@tungsten-network.com

This information is provided by RNS

The company news service from the London Stock Exchange

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