25 January 2023
(“ChallengerX” or the “Company”)
Changes in Leadership
Following our previous announcement of 9 January 2023, the Company (AQSE: CXS) announces that Stuart Adam, a UK Chartered Public Finance Accountant and Chartered Member of the Chartered Institute for Securities and Investment, has been appointed as Chief Financial Officer of the Company, effective immediately.
Stuart has extensive experience as Finance Director and Chief Financial Officer to companies listed on the LSE and AIM. He has been a Chartered Accountant for over 30 years providing services across a broad range of clients and sectors from SMEs to PLCs. He began his career in the National Audit Office, staying for 11 years, where he supervised and managed audit teams as well as undertaking statutory and regulatory reporting as Principal Auditor. More recently, Stuart was Chief Financial Officer at Dukemount Capital Plc and Group Financial Controller for TomCo Energy Plc, London & Boston Investments Plc, and AFA Systems Plc. He is currently Senior Partner at City & Westminster Corporate Finance LLP, and Finance Director of Red Leopard Holdings Plc.
AQSE Rule 4.9 – Directors’ Details
Stuart Adam holds or has held the following directorships (including directorships of companies registered outside England and Wales) within the previous five years:
Previous Directorships in the last 5 years
City & Westminster Corporate Finance LLP
1. does not hold any interest in the securities of the Company;
2. does not have any unspent convictions in relation to indictable offences;
3. 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;
4. 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;
5. 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;
6. has not been publicly criticised by any statutory or regulatory authority (including recognised professional bodies); or
7. 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:
John May, Chairman