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Argentex Group PLC announced the resignation of four non-executive directors, Henry Beckwith, Lord Digby Jones, Rina Ladva, and Jeff Parker, effective May 2, 2025. Chief Financial Officer Guy Rudolph also notified his resignation on May 2, 2025, and will serve a six-month notice period. On May 5, 2025, Tim Rudman was appointed to the board as Chief Executive Officer, bringing the board's total composition to four members.
| Date | 6 May 2025 |
| Time | 07:12:17 |
| Category | Board changes |
| ID | 4359H |
6 May 2025
Argentex Group plc
("Argentex" or the "Company")
Board Changes
Argentex Group PLC (AIM: AGFX) announces that, following the 25 April 2025 announcement regarding the recommended acquisition of Argentex by IFX Payments, the directors had reviewed the composition of the board and agreed that it would be in the best interests of the Company and its shareholders to reduce the number of directors. Accordingly, each of Henry Beckwith, Lord Digby Jones, Rina Ladva and Jeff Parker (all non-executive directors of the Company) agreed to resign and left the board on Friday 2 May 2025.
In addition, Guy Rudolph, the Company's Chief Financial Officer, on Friday 2 May 2025 notified the board of his resignation. Guy will continue to serve as Chief Financial Offer of the Company whilst he serves out his notice period of 6 months.
Following the completion of statutory Due Diligence checks, Tim Rudman was formally appointed to the board on 5 May 2025.
Following Tim's appointment the board now consists of Nigel Railton, non-executive chairman, Jonathan Gray, senior independent non-executive director, Tim Haldenby, independent non-executive director and Tim Rudman as Chief Executive Officer.
Nigel Railton, Chairman of Argentex said:
"Against the background of an extremely challenging past few weeks for Argentex, I would like to thank Henry, Lord Digby, Rina and Jeff for their expertise and contribution to Argentex during their tenure with the Company. Each of their experiences have provided valuable perspective for both the board and the wider group. We wish each of them well for the future."
For further information, please contact:
Argentex Group PLC
Tim Rudman - Interim Chief Executive Officer
investorrelations@argentex.com
Teneo (Financial PR)
James Macey-White/Victoria Boxall/ Riann Cato
argentex@teneo.com, 020 7260 2700
Singer Capital Markets (Financial Adviser, Nominated Adviser and Broker)
Tom Salvesen / James Maxwell / James Todd
020 7496 3000
Disclosure under Schedule 2(g) of the AIM Rules for Companies
Timothy James Rudman, aged 41, holds/has held the following directorships in the last five years:
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Current Directorships / Partnerships |
Previous Directorships / Partnerships |
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· N/A |
· Foreign Currency Exchange Limited |
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· Global Reach Partners Limited |
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· Rudman Capital Ventures LTD |