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6 Feb 2017 07:00
Orchard Funding Group PLC
("Orchard Funding Group" or the "Company")
Appointment of Non-Executive Director
Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce the appointment of Mr Iacovos Koumi, as a Non-Executive Director of the Company, with immediate effect.
Mr Koumi has over 35 years of experience in the financial services sector. Mr Koumi spent 16 years at Bank of Cyprus UK, joining as chief financial officer and later being appointed as chief executive, where he led the transformation and modernisation of the bank and oversaw the broadening of its deposit base. Mr Koumi also served as group finance director at Ansbacher investment banking group for a period of five years, where he was responsible for strategy, finance, risk management and systems. Prior to that he was a corporate finance director at Ansbacher, advising smaller quoted companies in various sectors on takeovers, disposals, listings, fundraisings and reconstructions. By profession he is a chartered accountant, having qualified at KPMG in London. Mr Koumi is currently a strategic consultant, predominately within the financial services sector, and he serves on the boards of a number of companies, including NETinfo Plc and SME Markets Limited.
Ravi Takhar, Chief Executive Officer of Orchard Funding Group, commented:
"We are pleased to welcome Iacovos to the Board. With his banking and financial experience Iacovos will be able to help the Company in exploring options for further development of the business, which may include seeking a banking licence to broaden the Company's funding base."
The following disclosures are required regarding the appointment of Iacovos Koumi, aged 59, pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:
Current directorships and partnerships: | Previous directorships and partnerships: |
NETinfo Plc (incorporated in Cyprus) SME Markets Limited AllPay Limited (incorporated in Cyprus) Exposure Organisation Limited | Bank of Cyprus UK Limited Bank of Cyprus Financial Services Limited Thermocore Medical Limited |
There is no further information disclosable in respect of Mr Koumi's appointment, pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
Orchard Funding Group PLC +44 (0)1582 346 248
Ravi Takhar, Chief Executive Officer
finnCap Limited (Nomad and Broker) +44 (0)20 7220 0579
Jonny Franklin-Adams (Corporate Finance)
Emily Watts (Corporate Finance)
Tim Redfern (Corporate Broking)
For Investor Relations please go to: www.orchardfundinggroupplc.com
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