TIDMPROX

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 18, 2017 02:01 ET (06:01 GMT)

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