Lionsgold Limited Director Appointment (9491G)
November 09 2018 - 10:30AM
UK Regulatory
TIDMLION
RNS Number : 9491G
Lionsgold Limited
09 November 2018
Lionsgold Limited
("Lionsgold", "LION" or the "Company")
Director Appointment
Lionsgold (LSE: LION), the gold company focused on the
exploration, production and retail application of physical gold,
including the development of physical gold as a currency, is
pleased to announce the appointment of Michael Paul Joseph as
Non-Executive Director with immediate effect.
Mr Joseph, aged 47, is a highly successful entrepreneur and
Managing Director of Right Choice Insurance Brokers Limited
("RCIB") - a company he founded that commenced trading in 2008 and
has grown year on year, now employing more than 300 people, and in
its last full financial year ending 31 December 2017, had turnover
of over GBP26m generating in excess of GBP9m in earnings before tax
for the 12-month period. The inherent value of RCIB is underpinned
by it's own purpose-built data technology system and the
competitive advantage it delivers to the business, which has grown
to over 250,000 customers currently. In June 2018, Lloyds Bank
private equity division ("LDC") invested GBP28m at a valuation over
GBP100m.
RCIB is regulated by the Financial Conduct Authority ("FCA"
reference number 475620) and Mr Joseph is an FCA approved person
(FCA reference number 01051) for relevant control functions.
Cameron Parry, Lionsgold Chief Executive Officer, commented: "It
is my pleasure to announce the addition of Michael Joseph to the
board of Lionsgold. He is a highly successful and esteemed
entrepreneur with the proven knowledge and ability to rapidly grow
a customer facing business in the financial services sector with a
proprietary core technology.
"Michael is a key addition to the Liongold board as the Company
enters the commercialisation phase of giving people the choice to
use a 100% reserve banking platform and hard currency. Furthermore,
this new director appointment ties in to the Company's stated
objective of applying for admission to trading on AIM in Q1
2019."
APPENDIX
The following details in relation to the appointment of Mr.
Joseph are disclosed in accordance with Schedule 2(g) of the AIM
Rules:
Current directorships Past directorships held within the
last five years
-------------------------------- -----------------------------------
Right Choice Insurance Brokers Bike Devil Limited
Limited
Right Choice Holdings Limited
Right Choice Property Holdings
Limited
Mr. Joseph owns 23,525,000 ordinary shares in the Company at
present (4.17% of the Company's issued share capital) and 1,818,181
warrants exercisable at 2.2p by 27 January 2019.
There are no other disclosures in accordance with Schedule 2(g)
of the AIM Rules.
Enquiries:
Lionsgold Limited Tel: +44 (0)20 8065 0215
Cameron Parry (Chief Executive Officer)
WH Ireland Limited (Nominated Adviser) Tel: +44 (0)207 220 1666
James Joyce/Chris Viggor
Smaller Company Capital Limited (Broker) Tel: +44 (0)20 3651 2911
Rupert Williams / Jeremy Woodgate
About LIONSGOLD Limited (LSE: LION)
Lionsgold is a London Stock Exchange AIM market quoted,
gold-focused company involved in the exploration, production and
retail application of physical gold, with gold assets in India and
Finland and a wholly owned financial technology company developing
physical gold as a currency.
Lionsgold's three core focuses are:
-- Strategic partnership with leading India gold exploration and
mine development company, Geomysore, in which Lionsgold holds
22%;
-- Developing physical gold as a currency under its wholly owned
financial technology subsidiary and 12.5% holding in banking
platform developer Railsbank Technology Ltd, to enable customers to
utilise their own physical gold with the convenience of everyday
banking via the international banking system; and
-- Gold exploration and production in Finland via 32% ownership of Finnish joint venture.
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contact rns@lseg.com or visit www.rns.com.
END
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