Directorate Change

Tap Global Group Plc (AQSE: TAP), the regulated crypto app bridging the gap between traditional finance and blockchain technology, announces that Arsen Torosian has been appointed as Chief Executive Officer with immediate effect. The appointment follows the resignation of David Carr as Chief Executive Officer and as a Director of the Company.

Mr Torosian is a fintech entrepreneur and early adopter of cryptocurrencies who co-founded Tap Global Limited, the wholly owned operating business licensed by the Gibraltar Financial Services Commission (“Tap”). He remains the largest shareholder of Tap Group and has been overseeing technology enhancement and international expansion in his previous role as Chief Strategy Officer.

The Company also announces the appointment of Steven Borg as Chief Financial Officer of Tap. Mr Borg’s appointment to the operating business will take effect from 11 April 2024. Tony Quirke, current Chief Financial Officer, is leaving the Company to pursue other opportunities and will continue to operate as Chief Financial Officer and as a Director of Tap Group until Steven’s appointment becomes effective.

Mr Borg has over 20 years’ accounting experience, having held senior roles in the professional services, fintech and payments industries including at PwC, Vega Protocol, Gnosis, and Transact Payments. Mr Borg’s appointment as full-time Chief Financial Officer of Tap strengthens the leadership team in Gibraltar and concentrates the finance function at the operating level. Oversight of the Company’s consolidated financial position will be managed between Mr Borg and the Company’s outsourced financial consultants in the UK.

The resignations of Mr Carr and Mr Quirke have given the Company the opportunity to streamline the structure of the Tap Group Board (“PLC Board”) which will provide governance oversight and direction to the Tap executive management (“Operating Board”). The Operating Board will continue to report to the PLC Board.

Once all the changes have taken effect, the PLC Board will comprise David Hunter as Non-Executive Chairman, John Taylor as Non-Executive Director, and Mr Torosian as Chief Executive Officer who, combined, have extensive experience in financial services, listed businesses and fintech. Des Hellicar-Bowman, Non-Executive Director of the Company, has resigned with effect from 31 March 2024 to pursue other opportunities.

David Hunter, Chairman of Tap Group, commented:

“On behalf of the Board, I would like to thank David Carr, Tony Quirke, and Des Hellicar-Bowman for their invaluable contributions to the growth and expansion of the business. David has been with Tap since its inception and has worked tirelessly to develop and integrate the full host of capabilities available on the Tap app today. Tony’s efforts in shepherding the Company through its listing and first consolidated audit have been monumental. Much of his recent focus has been on designing the enduring finance structure of the group and ensuring that its foundations have been firmly laid.

We welcome Arsen Torosian and Steven Borg into their new roles. Tap was founded on Arsen’s vision, and he has continued to play a large operational role as we sail through 300,000 users and execute our next growth phase. Steven joins with significant fintech and payments industries experience.”

The Directors of the Company accept responsibility for the contents of this announcement.

Learn more: www.withtap.com

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/tapglobal/

X (formerly Twitter): https://twitter.com/TapGlobalPlc