2 Dec 2009 07:00
2 December 2009
Earthport plc ("Earthport" or "Company)
Board Changes
The Board of Earthport plc is pleased to announce the appointment of Zafarullah (Zafar) Karim as an Executive Director with immediate effect. Zafar joined Earthport as Chief Financial Officer earlier this year and will continue this role in his position on the Board.
Before joining Earthport, Zafar was Vice President in the Advisory Group of DVB Bank. Prior to this he spent several years focusing on financial strategy, risk management and investment selection in a proprietary fund. In addition, he acted as a consultant to various businesses and entrepreneurs in relation to their financial strategy.
From 1994 to 2002 Zafar worked for NM Rothschild in London, Warsaw, Prague and Johannesburg latterly as a transaction leader with notable experience in the financial services sector.
James Bergman, Chief Executive Officer, commented:
"We are delighted to welcome Zafar onto the Board of Earthport plc. He has a broad and deep experience of finance, primarily in the financial services sector. Over the past months Zafar has been key in strengthening the financial function within the Company. He has also demonstrated his commitment to the Company. His ability and knowledge will be of great value to the Board and Earthport".
Matters for disclosure under paragraph (g) in Schedule 2 of the AIM Rules with respect to the appointment of Zafarullah Karim as an Executive Director of Earthport plc:
| Full name: | Zafarullah Karim |
| Age: | 41 |
| Current Directorships: | Legendary Investments Plc New Standard Capital Limited Bishopsbourne Management Company Limited |
| Directorships held within the last 5 years: | Indus Investments UK Limited Tymex Investments Limited Parkes Management Limited Designer Vision Group PLC* |
Zafar Karim was a non-executive director of Designer Vision Group (DVG) from August 2006 to March 2007. Subsequently, DVG was put into administration on 3 April 2007. DVG was placed into liquidation on 8 April 2008. It is expected that the deficiency for unsecured creditors will be approximately £1,605,000.
There are no other matters which are required to be announced with regards to this appointment as outlined under paragraph (f) of Schedule 2 of the AIM rules.
- Ends -
For further information, please contact:
| Earthport plc James Bergman, Chief Executive Officer | +44 (0)20 7220 9700 |
| Panmure Gordon Dominic Morley | +44 (0)20 7459 3600 |
| Financial Dynamics Jonathon Brill / Alex Beagley | +44 (0)20 7831 3113 |
About Earthport
Earthport (www.earthport.com) specialises in the international transactional marketplace by providing a highly secure, high volume global collection and payment capability. It has been making national and international payments and collections since 1998.
Earthport owns, provides and hosts an international money movement platform called the Universal Payments Network. Using this platform, Earthport makes secure, low cost international bank payments and collections worldwide.