Tungsten Corporation PLC Tungsten announces change to its Board (8729A)
30 December 2014 - 6:00PM
UK Regulatory
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
END
BOALKLLLZLFLFBX
Tungsten (LSE:TUNG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tungsten (LSE:TUNG)
Historical Stock Chart
From Jul 2023 to Jul 2024