11 Nov 2015 09:00
11 November 2015
MoneySwap Plc
("MoneySwap" or the "Company")
Directorate Changes and change of Chief Executive Officer
MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, is pleased to announce the following changes to its Board of Directors.
Appointment of Executive Director
Ms. Yu Shu Fen ('Sunny Yu') has been appointed to the Board as Executive Director, Business Development, with immediate effect. Sunny Yu, a qualified accountant, has nearly thirty years' experience at a senior level in the capital markets and wealth management industry. Prior to joining MoneySwap, she was a fund manager of PacRise Investment Management Pte. Limited, following several years as a wealth management consultant at Auspicium Capital Pte. Ltd. Ms Yu co-founded Vision Investment Management in 2000. Her role with MoneySwap will focus on identifying and delivering new corporate and institutional relationships in Asia, with a view to increasing transaction volumes across the MoneySwap platforms.
Change to Chief Executive Officer
Alongside the appointment of Sunny Yu, the Board has reviewed the best way to allocate management resources across the key geographic areas. As a result of this review, the following changes have been agreed with immediate effect:
Kung Min Lin, currently Chairman of the Company, will assume the role of Chief Executive Officer with immediate effect. Richard Proksa will continue his role at the Company as a Director and Chief Executive of Europe, Middle East and Africa ("EMEA") and the Americas. Richard's primary focus going forward will be the development of the business in EMEA and the Americas as these territories represent the largest total cross-border remittance transactions into PRC.
Kung Min Lin commented:
"I am delighted to welcome Sunny onto the Board. Her strong background in capital markets and solid network of contacts will be highly valuable as we look to expand MoneySwap's reach.
"It is now time to add senior executive capacity to the Company. Sunny's appointment and my assumption of an Executive role will provide these additional resources. Given all our relative backgrounds and experience, it is sensible that going forward Richard will now be able to focus on the key territories in EMEA and the Americas."
Regulatory disclosures
Sunny Yu, aged 52, is or has been a director or partner of the following entities within the past five years:
Current Directorships and Partnerships held | Directorships and Partnerships held in the previous 5 years |
Hobstone International Ltd | PacRise Investment Management Pte. Ltd |
Vision Investment Management Ltd | |
Bright Venture Ltd. | |
Australis Bio Pte Ltd | |
Synergy Capital Advisers Pte Ltd | |
Aoqi Singapore Pte Ltd | |
Swamp Capital Ltd |
Sunny Yu does not have an interest in the Company's issued share capital.
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2(g) of the AIM Rules for Companies.
- Ends -
For further information, please contact:
MoneySwap Plc | Allenby Capital Limited |
Nominated Adviser | |
Craig Niven Non-Executive Director | Nick Naylor James Reeve |
+44 7767 497400 | +44 20 3328 5656 |
About MoneySwap (www.moneyswap.com)
MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China. The Company also offers an online peer to peer platform for currency exchange and payments. The Company's shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.