TUNG.L Regulatory News (TUNG)

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

For Immediate Release

23 August 2018

Board Appointments

Tungsten Corporation plc, a global business transaction network, announces that Tony Bromovsky and Duncan Goldie-Morrison have been appointed to the Company's Board as Non-Executive Directors with immediate effect.

In a career spanning over 40 years, Tony has acted as an executive and non-executive director for a variety of companies across sectors including investment, healthcare, media and technology. He was previously a non-executive director of Vertical Intelligence Limited, Local World Holdings Limited, Chronos Therapeutics Limited, Oxford Biodynamics Limited and Circle Holdings (OS) Limited. He is also an executive director of Kilda Investments Limited, which he established in 1991 as a vehicle to invest in a number of ventures across Eastern Europe covering industries such as food production, micro-finance lending, pharmaceuticals, wineries and steelmaking. Tony spent the early part of his career as a commodities trader at Louis Dreyfus followed by Woodhouse Drake and Carey and Drexel Burnham Lambert. 

Duncan has spent his entire career in financial services. His current business interests include family investment vehicle Bradden Capital Management LLC, which he established in 2003 and where he is now Managing Partner. He is also director and part owner of supply chain finance company Orbian Corporation and prepaid cards business Transact Payments Limited. He also serves on the management board of P.R.I.M.E. Finance, a Dutch-based charity that provides resolution services for disputes concerning complex financial transactions. Duncan's executive career included senior positions with Credit Agricole Group, Ritchie Capital and Bank of America. Duncan spent the early part of his career with NatWest Markets, Westpac Banking Corp and Kleinwort Benson. Duncan has also previously served as a non-executive director on the boards of ICAP plc and Primus Guaranty Limited.

Enquiries:

Anthony (Tony) Sebastian Bromovsky, age 69, is currently or has been a director of the following companies within the past five years:

Mr Bromovsky was a director of Union Market Limited at the time that the company entered administration in February 2012. Mr Bromovsky was also a director of Drexel Burnham Lambert within 12 months of that company entering administration in March 1990.

Duncan Erling Goldie-Morrison, age 63, is currently or has been a director of the following companies within the past five years:

Save as set out in this announcement, there are no further matters to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies in respect of Mr Bromovsky or Mr Goldie-Morrison.

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure business transaction network that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.

Tungsten Network processes invoices for 74 percent of the FTSE 100 and 71 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over £164bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg's and the US Federal Government.