TNT.L Regulatory News (TNT)

9 March 2023

TINTRA PLC

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

Key Management Appointment & Directorate Change

The board of directors (the "Board") of Tintra, the fast-growth Deep Tech & Banking business, is pleased to announce the appointment of Dr Vanessa Neumann as Chair of Strategic Initiatives for Latin America and the Caribbean. This position has been created as the Group continues to progress in this region as a core element in its plan to build global banking infrastructure driven by culturally aware Artificial Intelligence and Natural Language Processing tools. Dr Neumann's appointment follows that of Constantine Chikosi in a similar role for Africa on 3 February 2023. 

Dr Neumann has been an Independent Non-Executive Director of the Company since 3 February 2022. She will transition from her current role during the next quarter and will not stand for re-election to the Board at this year's annual general meeting of the Company, expected to be held in July 2023.

At the core of her new role, Dr Neumann will be a founding director (subject to regulatory approval) of the Group's new subsidiary being established as part of its application for an International Financial Entity Licence in Puerto Rico ("IFE"), previously announced on 26 October 2021. A Puerto Rican IFE will provide the Company with direct access to the New York Federal Reserve, allow the Group to offer banking services to international (non-Puerto Rican resident) clients and will act as the Group's pivot between Latin America & the US. Puerto Rico is the Group's regional banking hub for Latin America, with the IFE licence at its core.

Dr Neumann has already brought a wealth of relevant experience to Tintra, especially on matters concerning Latin America, a key area to the Group's development, becoming the natural candidate for this role. Dr Neumann is a native Venezuelan, with a varied career as a diplomat, author, and entrepreneur, as well as a globally sought expert on transnational threats, Latin American business, and financial business integrity.

Dr Neumann said, "Assuming this role in Tintra is the realisation of a lifelong professional goal of bringing growth and prosperity to my home region, with business innovation that facilitates and expands trade, broadening access to the traditionally underserved, by reducing their obstacles in both speed and costs by treating the region fairly and through the appropriate lens. Latin America and the Caribbean ("LAC") are particular growth markets for the services we offer, giving us the opportunity to exponentially grow both Tintra and the market within the region, as well as its connectivity to other key regions like North America, Europe, and Asia, while maintaining strong integrity protocols. Our offering is unique and long sought by businesses and government in the LAC region, so it is an honour and a pleasure to lead this team."

Richard Shearer, Tintra's CEO, said, "Dr Neumann has been an integral part of the Tintra Team for a year now as a Non-Executive Director, during that time as we've built out our strategy Vanessa has been an invaluable asset to the board as we went from vision to rationalisation of a strategy that will help drive global financial inclusion across the emerging world.

Now as we move into delivery mode, Vanessa is simply too valuable a resource to not be contributing her incomparable experience, skills and access in the region across both public and private sectors in an executive capacity.

By sitting as Chair of our Latin American business, for which I'd like to share my personal gratitude and excitement, Vanessa brings a substance and regional touch that would simply have taken years for a new market entrant such as Tintra to achieve. And as such shortens our roadmap in all of our target markets across the region as we use Artificial Intelligence to Bring Real Change to Latin America." 

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