TAP Tap Global Group Plc

 
TIDMTAP 
 
9 May 2023 
 
                             Tap Global Group Plc 
                           ("Tap" or the "Company") 
 
                     Appointment of Tap Global Limited CEO 
 
                                       & 
 
                             Grant of LTIP Options 
 
  Experienced Financial Technology and Payments Executive Kriya Patel to Lead 
                              Operating Business 
 
Tap Global Group Plc (AQSE: TAP), the regulated crypto app bridging the gap 
between traditional finance and blockchain technology, is pleased to announce 
the appointment, with effect from 12 June 2023, of Kriyakant "Kriya" Patel as 
Chief Executive Officer of Tap Global Limited ("TGL"), the Company's wholly 
owned operating business. He will report to the Tap Board of Directors 
including the Group Chief Executive Officer, David Carr. 
 
Kriya has held senior and executive leadership positions across payments, 
e-money, and financial technology businesses, including as Chief Operating 
Officer of Newcastle Card Solutions, Advisory Board Member of The Payments 
Association, Chair of the Gibraltar E-Money Association and, most recently, as 
Chief Executive Officer of Transact Payments Limited ("Transact") for nine 
years. 
 
During his tenure at Transact, the payment services provider, Kriya was 
responsible for the management of all business areas, a team of over 60 
employees, and implementing a three-year rolling strategic plan to drive 
profitability. He oversaw a continuous period of revenue growth at the 
business. At TGL, Kriya's focus will be on growing the business' user base, 
international expansion, diversifying revenue streams, and overseeing 
day-to-day operations. 
 
Grant of Long-Term Incentive Plan Options ("LTIP Options") 
 
Tap has agreed to grant certain LTIP Options to Kriya Patel following the 
commencement of his employment. He will receive 5,000,000 new LTIP Options 
which will vest on achievement of the Milestone 1 revenue targets as set out in 
the 16 December 2022 Admission Document ("Admission Document") available at 
https://investor.tap.global/, and a further 10,000,000 LTIP options, which will 
vest on achievement of the Milestone 2 revenue targets as set out in the 
Admission Document.  8,500,000 Milestone 2 LTIP Options will be re-distributed 
equally from the existing entitlements of David Carr and Arsen Torosian, with 
an additional new 1,500,000 being added to the LTIP Options pool. 
 
John Taylor, Chairman of Tap Global Group Plc, commented: 
 
"We are delighted to welcome Kriya to Tap. The Company is experiencing an 
extraordinary period of growth, despite sectoral headwinds, and to be able to 
attract someone who has delivered strategic growth throughout his career is a 
significant coup. Kriya is a hugely respected individual in the FinTech sector, 
both in Gibraltar and the UK, and his agreement to join TGL is a notable vote 
of confidence in the business. I have no doubt that Kriya's extensive 
experience will prove invaluable as we grow." 
 
Kriya Patel, CEO designate of Tap Global Limited, said: 
 
"I have had a close working relationship with Tap over the last four years and 
have always been incredibly impressed with the platform, people, and potential. 
I am delighted to join the team and look forward to leading the strategic 
growth of the operating company. Tap has continued its impressive growth 
through the various challenges in the wider crypto environment and is, in my 
view, uniquely placed to benefit from the significant opportunities in European 
markets and beyond by focussing on a customer-driven product need, whilst 
maintaining its regulated and security-first approach." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
Enquiries: 
 
Tap Global Group Plc                                  Via Vigo Consulting 
David Carr, Chief Executive Officer 
 
Peterhouse Capital Limited (AQSE Growth Market        +44 (0)20 220 9795 
Corporate Advisor) 
Guy Miller/Narisha Ragoonanthun 
 
Vigo Consulting (Investor Relations)                  +44 (0)20 7390 0230 
Ben Simons / Charlie Neish                            tapglobal@vigoconsulting.com 
 
About Tap Global 
 
Tap is a fully regulated cryptocurrency app bridging the gap between 
traditional finance and blockchain technology. 
 
Through a single app, Tap's over 140,000 users can access several major 
cryptocurrency exchanges and, utilising Tap's proprietary Artificial 
Intelligence middleware, customers benefit from best-execution and pricing in 
real time. Through the Tap card, users can also convert their cryptocurrencies 
to fiat to spend at more than 37 million merchant locations worldwide. 
 
Tap is one of only a handful of unified solutions operators fully regulated to 
provide distributed ledger technology services and was the first cryptocurrency 
FinTech company approved by Mastercard in Europe. 
 
Learn more: www.withtap.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 09, 2023 02:00 ET (06:00 GMT)

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