24 May 2017 07:01
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
24 May 2017
Directorate Change
Tungsten Corporation plc (LSE:TUNG), the global e-invoicing, purchase order services, analytics and financing company, has been notified that Danny Truell will be stepping down as a Non-Executive Director of the Board with immediate effect.
Danny Truell commented:
"I enjoyed creating Tungsten. With Rick at the helm, steering a highly capable senior leadership team, I am very confident about its future and remain a robust shareholder. Sadly, my health has deteriorated and it is time for me to step aside."
Nick Parker, Non-Executive Chairman, commented:
"On behalf of the Board, I should like to thank Danny, a Founder of Tungsten, for his enormous contribution to the development of the business. We wish him well for the future."
Enquiries
Tungsten Corporation plc Richard Hurwitz, Chief Executive Officer David Williams, Chief Financial Officer |
+44 20 7280 7713
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Panmure Gordon (Nominated Advisor) Dominic Morley/Peter Steel | +44 20 7886 2500
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Canaccord Genuity Limited (Broker) Simon Bridges/Andrew Buchanan/Emma Gabriel | +44 20 7523 8000
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Neustria Partners Robert Bailhache/Nick Henderson/Charles Gorman [email] | +44 20 3021 2580
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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 e-invoicing and purchase order services platform that brings businesses and their Suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow management. 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 70% of the FTSE 100 and 72% of the Fortune 500. It enables Suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over £133bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's and the US Federal Government.
Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between Buyers and Suppliers faster, easier and smarter.