TIDMTUNG

RNS Number : 3385L

Tungsten Corporation PLC

27 April 2015

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 27 April 2015

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

Tungsten announces Analytics joint venture with Goldsmiths

Directorate Change

London, 27 April - Tungsten Corporation plc (LSE: TUNG) today announced that it is establishing the Tungsten Centre for Intelligent Data Analytics ("TCIDA") a research and development partnership between Tungsten and Goldsmiths, University of London.

TCIDA will be chaired by Phil Ashdown. Having successfully led the acquisition of, regulatory approval for and subsequent development of Tungsten Bank, Ashdown is stepping down as CEO of Tungsten Bank and from Tungsten Corporation's board with effect on 24 April 2015.

Edmund Truell, Group Chief Executive of Tungsten Corporation said, "I am excited by the prospects for Tungsten Analytics. We are looking to extend our lead in the real time analysis of the enormous repository of data to which we add every day. Phil, having initiated Tungsten Analytics and who was instrumental in acquiring Tungsten Bank, steering it through its authorisation in the UK and major EU countries, will now Chair TCIDA and focus his attentions on our new partnership with Goldsmiths.

On the Banking front, we are entering the next exciting phase of development and now intend to accelerate our disruption of a lending market that continues to neglect the working capital and credit needs of businesses, particularly SMEs."

Enquiries:

 
 Tungsten Corporation plc. 
  Edmund Truell, Chief Executive                +44 20 7280 
  Officer                                       7901 
  Juliana Wheeler, Head of                      +44 20 7280 
  Global Communications                         7973 
 
 Charles Stanley Securities 
  (Nominated Adviser and Joint 
  Broker)                                       +44 20 7149 
  Marc Milmo/Dugald Carlean                     6000 
 
 Canaccord Genuity Limited 
  (Joint Broker) 
  Simon Bridges/Peter Stewart/Cameron           +44 20 7523 
  Duncan                                        8000 
 
 Neustria Partners (Investors 
  and Analysts) 
  Robert Bailhache/Nick Henderson/Charles       +44 20 3021 
  Gorman                                        2580 
 
 Speed Communications (Press)                 +44 117 973 
  Rosie Park / Kerry Grove                     3300

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 by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank; and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

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 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 acquired DocuSphere, a provider of accounts payable automation solutions, in September 2014.

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

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