29 Dec 2020 07:30
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
29th December 2020
Finablr PLC (the 'Company')
Finablr PLC ("Finablr" or "the Company"), the global platform for payments and foreign exchange, today announces as follows:
Resignation of Bhairav Trivedi as Chief Executive Officer
Bhairav Trivedi has resigned as Chief Executive Officer with effect from 1st January 2021. The Chairman, Michael Tomalin, noted: "On behalf of the Board, I want to thank Bhairav for his leadership, energy and commitment during a very difficult period in the Company's history, culminating in the signing of a definitive agreement with Global Fintech Investments Holding AG."
Mr Trivedi remains on the Finablr PLC board as a Non-Executive Director.
Appointment of new Chief Executive Officer
Robert Miller accepted his nomination to join the Board as Director and Chief Executive Officer to succeed Bhairav with effect from 1st January 2021. Robert joined the Company in October 2019 from Deloitte LLP where he was a partner in the London office.
There are no further disclosures to be made pursuant to Listing Rule 9.6.13.
The Company further notes that the transaction with Global Fintech Investments Holding AG, with regard to the sale of its subsidiary Finablr Limited, is progressing in line with our announcement of 17 December 2020.
END
Enquiries
The Company
Finablr PLC
Robert Miller - robert.miller@finablr.com
Nitin Gautam - nitin.gautam@uaeexchange.com
About Finablr
Finablr is a global platform for Payments and Foreign Exchange underpinned by modern proprietary technology. With deep regulatory know-how, a relentless focus on innovation and leading industry partnerships, Finablr' s group companies provide a broad array of tailored and trusted financial solutions for consumers and businesses across a wide network of digital channels, payments platforms and retail stores.
Finablr is present across the entire payments and foreign exchange value chain, from origination to processing to last-mile distribution. An integrated platform is at the heart of group's proposition, supporting an omni-channel strategy underpinned by best-in-class operating capabilities and connectivity to global payment networks. Driven by technology, the platform combines flexibility with significant economies of scale, making Finablr a partner of choice for leading global banks, financial institutions, retailers, mobile wallet providers and payment & technology companies.
Through its category renowned brands, including UAE Exchange, Xpress Money, Unimoni, Remit2India, Ditto and Swych, Finablr processed over 150 million transactions in 2018, managing nearly USD 115 billion in volume for its customers. The groups global reach spans over 170 countries with relationships with more than 100 regulators.
For more information, visit the Finablr website: www.finablr.com