Tap Global Group Plc - Appointment of Tap Global Limited CEO

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:

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