Alfa Financial Software Holdings Regulatory News (ALFA)

23 March 2020

Alfa Financial Software Holdings PLC

Directorate Change

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), the leading developer of mission-critical software for the asset finance industry, is pleased to announce the appointment of Duncan Magrath as Chief Financial Officer Designate. Duncan will join the Company on 23 March 2020 and will join the Board as Chief Financial Officer after the publication of the Company's annual results. In the meantime, John Miller will continue as Interim Chief Financial Officer and he will lead the preparation and presentation of the Company's results.

Duncan has an Engineering degree and qualified as a chartered accountant at Price Waterhouse. He worked in a variety of senior finance roles in both the UK and US at Exel Logistics and subsequently had roles as Group CFO at Balfour Beatty and Rubix.

Commenting on the appointment Andrew Denton, Chief Executive Officer of Alfa said:

"I am delighted to welcome Duncan to Alfa. He has a broad range of financial experience in international businesses including eight years as a CFO of listed businesses. This experience and a track record of execution make him a great addition to the Board. I would like to take the opportunity to thank John Miller for the invaluable contribution he has made to Alfa as Interim Chief Financial Officer over the last 11 months."

Duncan Magrath said:

"I am very excited to be joining Alfa, with its class-leading software and reputation for excellence. With the Company's unrivalled position in a growing market, allied with a strong balance sheet, it is a great time to be joining such an experienced management team to help deliver the next step in its future growth."

In the last 5 years Duncan was (but is no longer) a director of Brammer plc (now Rubix Group International Limited) and of Balfour Beatty plc, both publicly quoted companies. The Company confirms there are no further disclosures to be made in connection with Duncan's appointment pursuant to paragraph 9.6.13 of the Financial Conduct Authority's Listing Rules. 

Enquiries

Notes to Editors

Alfa has been delivering systems and consultancy services to the global asset and automotive finance industry since 1990. Our best practice methodologies and specialised knowledge of asset finance facilitates our delivery of large software implementations and highly complex business change projects. With an excellent delivery history over nearly three decades in the industry, Alfa's experience and performance is unrivalled.

Alfa Systems, our class-leading technology platform, is at the heart of some of the world's largest asset finance companies. Key to the business case for each implementation is Alfa Systems' ability to replace multiple client systems on a single platform. Alfa Systems supports both retail and corporate business for auto, equipment, wholesale and dealer finance on a multijurisdictional basis, including leases/loans, originations and servicing. An end-to-end solution with integrated workflow and automated processing using business rules, Alfa Systems provides compelling solutions to asset finance companies.

Alfa Systems supports portfolios in 20 countries and Alfa has offices in Europe, Asia-Pacific and North America. For more information, visit www.alfasystems.com.