ChallengerX Plc - Changes in Leadership and Board Composition

ChallengerX Plc - Changes in Leadership and Board Composition

PR Newswire

London, February 18

18 February 2022

ChallengerX plc

("ChallengerX" or the "Company")

Changes in Leadership and Board Composition

The Company (AQSE: CXS) announces that John May, a UK Chartered Accountant, has been appointed as Non-Executive Chairman of the Company, effective immediately. John has significant experience and connections in the UK that will assist the Company with the execution of its strategic plan. John May has been a practicing Chartered Accountant for over 40 years providing services across a broad range of clients from SMEs to PLCs of international repute. He was a Senior Partner in the leading Chartered Accountancy firm, now Crowe UK, for 17 of those years, including 8 years on the Managing Board, where he was involved with developing marketing strategy in the capacity as National Marketing Partner, and the Chairman of the Thames Valley Offices for 9 years. More recently Mr. May has been in the board of companies which require his experience and corporate governance skills, particularly in relation to Audit Committee and statutory responsibilities. These companies are predominantly in the fintech, clean power, health-tech and ethical mining industries. Past directorships include Tomco Energy Plc, Petrolatina Energy Plc, Hayward Tyler Group Plc and London & Boston Investments. Current directorships include Pires Investments Plc, City & Westminster Corporate Finance LLP and Red Leopard Holdings Plc.

Furthermore, Brian Connell, a Chartered Financial Analyst and the Company's Chief Financial Officer, will be assuming the role of Chief Executive Officer, effective immediately. Previously, Brian was the Founder and CEO of venture backed StreetFusion, a fintech company based in San Francisco, CA.

Lastly, the Company is taking the appropriate steps to unfreeze approximately €660,000 of its funds held in the accounts of its wholly-owned French subsidiary SportsX SAS. These funds were mistakenly frozen by the French authorities as part of an investigation into the Company's former CEO. The Company has been advised that the process of unfreezing them is a simple procedural matter in France. The Board believes that while it may take some time to complete this process it will ultimately be successful in having the funds unfrozen.

The Company's bank accounts remain unaffected, however, and the Board is confident that the Company's current financial resources of over £550,000 are more than adequate for it to execute on its plans.

AQSE Rule 4.09 - Directors' Details

John May holds or has held the following directorships (including directorships of companies registered outside England and Wales) within the previous five years:

Director	Current Directorships	Previous Directorships in the last 5 years
John May	Score Tek Limited Mobcast Limited Coolcharm Gold Mining Co Ltd Major Broadcasting Corp Ltd The Genesis Initiative Ltd The Small Business Bureau Ltd Read 2 Write Limited Media World Networks Ltd Enterprise 24/7 Ltd The Time Traveller Company Ltd Nevada Gold Ltd Uniqorn Media Ltd Hemp.im Ltd XRApplied Ltd Ignite Africa Ltd M6 Limited The Morani Preserve Ltd The Morani Conservancy Ltd Smart Toys Technologies Ltd Silver Uniqorn Ltd Outsize Capital Limited Fitness Pods Ltd The Genesis Initiative Africa Ltd Global Osteoporosis Foundation Pires Investments Plc China Pub Companv Plc Red Leopard Holdings Plc Red Leopard Management Ltd Harrell Hotels (Europe) Ltd	Defence Assets Solutions Ltd Hayward Tyler Group Pic Southbank UK Ltd Specialist Energy Group Trustee Ltd Aero Optimal Ltd BRC-IT Ltd International Consolidated Minerals Ltd City & Westminster Consultants LLP Round Top Minerals Limited Ionian Pello Tech Limited Desert Hawk Gold Corporation

John May:

1. does not have any unspent convictions in relation to indictable offences;

2. has not been a director of a company which has been placed in receivership, insolvent liquidation, administration, been subject to a voluntary arrangement or any composition or arrangement with its creditors generally or any class of its creditors whilst he was a director of that company or within the 12 months after he ceased to be a director of that company;

3. has not been a partner in any partnership which has been placed in insolvent liquidation, administration or been the subject of a partnership voluntary arrangement whilst he was a partner in that partnership or within the 12 months after he ceased to be a partner in that partnership;

4. has not been the owner of any assets or a partner in any partnership which has been placed in receivership whilst he was a partner in that partnership or within the 12 months after he ceased to be a partner in that partnership;

5. has not been publicly criticised by any statutory or regulatory authority (including recognised professional bodies); or

6. has not been disqualified by a court from acting as a director of any company or from acting in the management or conduct of the affairs of a company.

This announcement contains information which, prior to its disclosure, constituted inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

The directors of ChallengerX accept responsibility for this announcement.

For further information please contact:

ChallengerX plc
Brian Connell, CFA, Finance Director & CEO John May, Chairman	[e-mail] [e-mail]
First Sentinel
Corporate Adviser Brian Stockbridge Gabrielle Cordeiro	[phone]