Board Changes

RNS Number : 4835F

Proxama PLC

18 May 2017

 

18 May 2017

Proxama PLC

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

Board Change

Proxama PLC (AIM: PROX) reported on 17 May that, following the conclusion of the strategic review, the Company will restructure its Digital Payments Division, significantly reducing its cost base.

As part of this process, Proxama today announces that Mike Woods is stepping down as CEO of the Digital Payments Division, and from his role on the Board with immediate effect.

John Kennedy, Chief Executive of Proxama said:

"I would like to thank Mike for his contribution to Proxama since joining in 2014."

ENDS-

 Enquiries:

Proxama PLC John Kennedy, Chief Executive	020 3668 2888
Peel Hunt LLP (Nominated Adviser and Broker)                Richard Kauffer Euan Brown	020 7418 8900
Redleaf Communications Charlie Geller Elise Palmer Sam Modlin	0207 382 4769

About Proxama

Proxama is an international mobile commerce Company specialising in proximity marketing via mobile and providing end-to-end solutions for card issuers to migrate customers from magnetic stripe credit and debit cards to contactless mobile payments.

Proxama's digital payments division supplies smart credit and debit cards solutions to card-issuing financial institutions and processors in the United States, Europe, Africa and the Middle East, and specialises in enabling the migration from magnetic stripe cards to chip cards, and from contactless chip cards to mobile devices. The product set behind this division is Proxama's Digital Enablement Platform, a comprehensive suite of card and mobile payment-enabling technologies.

 

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