FLX.L Regulatory News (FLX)

Falanx Group Limited

("Falanx", "Group" or "the Company")

Directorate Changes

Falanx Group Limited (AIM: FLX), the AIM listed provider of cyber security services, is pleased to announce the appointment of William Kilmer as an independent Non-Executive Director and Richard "Rick" Flood as an Executive Director and with immediate effect.

William Kilmer is an entrepreneur, venture capital investor, and author who has helped found and invest in dozens of companies around the world over his twenty-five-year career in the technology industry. He is currently a senior advisor for investments and company building at Gallos, an investor in the security technology sector. He was previously the managing partner of C5 Capital, a specialist venture capital fund investing in cyber security, cloud infrastructure, applied data analytics, and space economy companies until March 2022. He has been founder and CEO of several cybersecurity and data analytics companies, formed a wireless operator in the UK, and has served on the board of several technology companies and other organizations. William previously served as the managing director of Intel Capital, a corporate venture capital fund where he managed European investments and formed a targeted venture fund to invest in the Middle East and North Africa. William will chair Falanx's audit committee.

Rick Flood has been with Falanx Cyber for just over 5 years, becoming its Managing Director in 2019. Since taking responsibility for this division, Rick has been instrumental in driving the transformation from old to new technologies, the division's subsequent return to profitability in H1 FY22, and the current investment in growth. He is a veteran of the software and technology space and an advocate of SaaS/Cloud adoption for 15+ years. Rick initially trained as an accountant in industry with CIMA and soon switched to the software sector and ultimately to sales and marketing, spanning more than 30 years and a variety of roles including executive positions in both private and public companies. Rick has worked extensively with high growth and early-stage enterprises, predominantly in the software sector. He has also worked with stakeholders in various corporate recovery roles with undertakings in distress and turnaround situations. His previous AIM experience was with Earthport, Host Europe and Pipex, where he first worked with Mike Read.

Alex Hambro, Chairman commented

"I am delighted that William has joined Falanx. He has extensive experience in the cyber security sector in both investor and operational roles and so can practically support the development of our cyber security business, as well as providing further corporate governance expertise. We are also pleased to welcome Rick to the board. Rick possesses long-held expertise in delivering contract wins and revenue growth and has made a huge impact on the expansion of Falanx's pipeline of new client opportunities"

In accordance with Schedule 2(g) of the AIM Rules, William Edward Kilmer, aged 57, holds or has held in the past five years the following directorships and partnerships:

There is no further information required to be disclosed in respect of the appointment of William Kilmer pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

In accordance with Schedule 2(g) of the AIM Rules, Richard Andrew Flood, aged 62, holds or has held in the past five years the following directorships and partnerships:

Rick Flood has previously worked on behalf of debt and equity investors in distress and turnaround situations. Consequently, there is an inherent risk of corporate failure and despite achieving successful results in many cases, there have been the following situations where the business has been through an insolvency process or scheme of arrangement.

Rick Flood was a director of Xrio Limited, which entered into a voluntary creditor's liquidation on 10 March 2014. The estimated deficiency as regards members at 10 March 2014 was £247,769.66.

Rick Flood was a director of JSA Services Limited, which entered into a CVA on 30 November 2009. It was completed on 31 May 2011 and the company continues to trade.

Rick Flood was a director of 101010 Limited, which entered into a voluntary creditor's liquidation on 7 April 2004. The estimated deficiency as regards members at 7 May 2004 was £1,265,050.00.

Rick Flood is the beneficial owner of 1,809,702 ordinary shares. He also has the following interest in share options over ordinary shares;

· 5,000,000 share options which were granted on 25 September 2019 with an exercise price of 1.925 pence per share.

· 4,999,200 share options which were granted on 21 April 2020 with an exercise price of 1 penny per share.

Rick Flood entered into personal bankruptcy in March 2015 and was discharged one year later, having fully satisfied creditor obligations.

There is no further information required to be disclosed in respect of the appointment of Rick Flood pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

Enquiries:

 About Falanx

Falanx Group Limited, is a cyber defence provider providing enterprise class defensive and offensive security solutions to SME. For further information: http://www.falanx.com/