Last checked at 3 Dec 2019 17:05
3 December 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO BE PRICE SENSITIVE FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS
BANGO PLC
("Bango")
New Board members to further strengthen Bango for growth
Bango (AIM: BGO), the mobile commerce company, announces the appointment of two Non-Executive Directors.
Appointment of Senior Independent Non-Executive Director
Sir Eric Peacock joins Bango as Senior Independent Non-Executive Director, to guide and support the expected rapid growth of Bango as it builds on its global relationships and capitalizes on its data monetization technology.
Sir Eric has unique experience of fast-growth businesses with broad experience in a range of CEO, Chair and NED roles in public and private companies including Stage Technologies, Achieve Global, Halo Intl., and Babygro plc. He has a track record of growing shareholder value during periods of rapid growth by creating cultures that result in competitive advantage and customer service excellence.
In addition to his experience in financial services and expertise in corporate governance, Sir Eric has served in several government bodies including UKTI (Board member), FCO (Board), Non-Executive Director of UK Export Finance and BIS (Directorate), bringing extensive regulatory insight to Bango as it expands its data monetization business.
"I'm really excited by the growth of Bango and the huge opportunities opening-up by the expansion into data monetization," commented Sir Eric Peacock, Senior Independent Non-Executive Director at Bango. "The opportunity to support the Board and leadership team to enable continued fast growth is incredibly exciting".
Appointment of Independent Non-Executive Director
Frank Bury joins Bango as an Independent Non-Executive Director bringing a wealth of experience of investing in growing tech companies. He has a career spanning 27 years in finance, having spent 12 years in the City of London and 15 years running venture investment partnerships in the tech and emerging markets sectors.
Frank is currently a NED at Smartlogic, bio-tech innovator Domainex Ltd and at TS Lombard. He continues to lead tech focussed development capital business Bury Fitzwilliam-Lay and Partners LLP which has a wide range of venture and growth capital investments built over 16 years.
"I have followed Bango for many years, both as an investor and from the viewpoint of other tech businesses with global impact. I am delighted to join the Bango Board as it extends its leadership in mobile commerce" commented Frank Bury, Independent Non-Executive Director at Bango.
Board Committee Structure
Sir Eric Peacock will chair the Bango Nomination Committee, which evaluates the composition and performance of the Board, succession planning, and the directorial skills and experience required as Bango continues to grow. Frank Bury joins the Audit and Risk Committee as its new Chair.
David Sear, Chair of Bango, said; "I am delighted to welcome Eric and Frank to the Bango Board. Their experience in building large, innovative companies will be a great asset as Bango continues to grow across the payment and data monetization businesses. Eric's skills in developing high performance teams and strong corporate governance are world class, and Frank has an impressive record of growing tech companies. I look forward to working closely with them as we grow Bango to fulfil the aspirations of Bango shareholders and customers."
INFORMATION REQUIRED UNDER SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES.
Full name | Sir William Eric Peacock |
Age | 75 |
Bango shares held | Mr Peacock does not have any beneficial interest in Bango shares. |
Current directorships: | Just Capital Limited Websure Holdings Limited Ipro Sport Holdings Limited Zsh Corporate Trustee 2 Limited Zsh Corporate Trustee 1 Limited Whizz Education Limited Boxford (Suffolk) Holdings Limited Sheraton Systems Limited Buckley Jewellery Limited Uniqueness Limited Stevenage Packaging Limited Dragon International Limited |
Prior directorships from previous 5 years: | Dragongill Limited JLG Group Plc Firescape Holdings Limited Thorn Medical Ltd Tungsten Group Ltd Newable Limited Safetonet Limited CHF Media Group Limited |
Full name | Frank Simon Bury |
Age | 49 |
Bango shares held | Mr Bury has a beneficial interest in 308,500 ordinary shares, representing 0.44 per cent. of the issued share capital of the Company. |
Current directorships: | TSL Research Group Limited Domainex Limited Smartlogic Holdings Plc Smartlogic Semaphore Limited |
Current partnerships: | Bury Fitzwilliam-Lay and Partners LLP Millichope Enterprises Partnership Farms |
Prior directorships from previous 5 years: | I-Solutions Global Limited Trusted Sources UK Limited Kelvin Inns Limited |
Sir Eric was appointed as a Non-Executive Director in February 2016 prior to a potential listing of Thorn Medical Ltd ("Thorn"). After major deficiencies in the executive management team were uncovered, the non-executive directors, including Sir Eric, resigned from the Board in May 2017. Thorn went into administration 4 months' after Sir Eric resigned. As at 5 September 2019 the liquidators report notes a total of 22 outstanding unsecured creditors with a value of £2,517,418.08.
There is no further information to be disclosed in relation to the appointments of Sir Eric Peacock and Frank Bury pursuant to Schedule 2, paragraph (g) of the AIM Rules.
ENDS
For further information please contact:
Bango plc |
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Ray Anderson, CEO | investors@bango.com |
Carolyn Rand, CFO |
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Anil Malhotra, CMO |
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finnCap Ltd |
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Marc Milmo James Thompson Matthew Radley | +44 207 200 0500 |
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FTI Consulting |
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Matt Dixon Darius Alexander | +44 203 727 1000 |
About Bango
Cross the threshold into the thriving Bango ecosystem where merchants and payment providers converge, grow and thrive. Being inside the Bango circle means global merchants including Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) are able to work together with payment partners from Africa to the Americas, accelerating the performance of everyone on the inside. By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new dimensions of growth and new experiences for people around the world.
Bango. Think inside the circle. For more information, visit www.bango.com.