Pci-pal Regulatory News (PCIP)

PCI-PAL PLC

("PCI Pal", "the Company" or "the Group")

Board Changes

PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce Board changes in preparation for the next phase of growth for the Group, which will come into effect immediately following the Group's Annual General Meeting on 21 November 2019.

Simon Wilson, a recently appointed Non-Executive Director with significant international technology industry experience, will succeed Chris Fielding as Chairman. Chris Fielding will remain on the Board as a Non-Executive Director and will continue to be Chairman of the Audit Committee. He will also succeed Jason Starr as Senior Non-Executive Director. Jason Starr will continue to be Chairman of the Remuneration Committee and a Non-Executive Director.

Simon Wilson has served as a Director at several international software companies including Endace PLC (AIM), Chairman at M86 Security, and Audit Committee Chair at Workshare. Simon has also provided international growth, fund-raising and M&A consulting services to a range of software companies including July Systems and The Innovation Group PLC (AIM), resulting in consistent improvements in returns for shareholders.

In addition, Simon has previously held CEO, CFO and Corporate Development roles in a range of U.S. and U.K. B2B software companies, including CFO of SurfControl PLC, the LSE-listed Internet security company which was acquired by Websense (NASDAQ). Prior to SurfControl, Simon was a partner in KPMG's U.S. Corporate Finance Practice, where he specialised in providing advice on corporate development strategy and M&A services to U.S. and international software and IT services companies.

This re-alignment of Board roles will support PCI Pal in its next stage of growth and in the delivery of its international expansion strategy with the goal of becoming the preferred Cloud solution provider that technology vendors globally turn to for achieving PCI compliance for payments by phone.

Chris Fielding, Chairman said:

"The Group has come a long way since I took on the role of Chairman in 2015. We have re-engineered the Group to focus on our payment security business; launched the first true-Cloud, globally accessible platform in our space; re-financed the Group, bringing in new shareholders and strengthening the balance sheet; and have created a core structure to this fast growing business that has firmly established itself in the U.K. and U.S.

"Looking to the future, the Group will continue to expand, not only in the U.S., but in other international markets and the Board now believes that we need a person with extensive international, SaaS solution, experience to ensure we deliver on the exciting opportunity we have in front of us."

James Barham, Chief Executive Officer added:

"On behalf of the Board I want to thank Chris for his leadership over the term of his Chairmanship since 2015. In particular, Chris' guidance was invaluable as PCI Pal transitioned from an outsourced service provider for call centres, to a Cloud-based solution provider partnering with many of the world's leading technology vendors.

"As a pure-play Cloud software vendor expanding in multiple international regions, now is the right time to add additional industry experience to the Board to help PCI Pal along its journey. Simon's background includes 30 years of operating, advisory and board positions in international B2B software companies. Together with his extensive experience in international expansion and cross-border M&A, Simon is a great addition to the Board, and we all welcome him to the role of Chairman."

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

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About PCI Pal:

PCI Pal is a specialist provider of secure payment solutions for contact centres and businesses taking Cardholder Not Present (CNP) payments. PCI Pal's globally accessible cloud platform empowers organisations to take payments securely without bringing their environments into scope of PCI DSS and other card payment data security rules and regulations.

With the entire product portfolio served from PCI Pal's cloud environment, integrations with existing telephony, payment, and desktop environments are light-touch, ensuring no degradation of service while achieving security and compliance.

PCI Pal has offices in London, Ipswich (UK) and Charlotte NC (USA). For more information visit www.pcipal.com or follow the team on Twitter: https://twitter.com/PCIPAL