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Tap Global Group Plc - Appointment of Chairman and Award of Options

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Tap Global Group Plc · TAP

23/05/2023 07:00

Tap Global Group Plc - Appointment of Chairman and Award of Options PR Newswire

23 May 2023

Tap Global Group Plc

(“Tap” or the “Company”)

Appointment of Chairman


Award of Options

Leading Financial Technology and Payments Executive David Hunter Joins Tap as Chairman

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 of David Hunter as Non-Executive Chairman with effect from 1 June 2023. Current Non-Executive Chairman, John Taylor, will remain on the Company’s board as a Non-Executive Director.

David is an experienced executive with a track record of building and leading disruptive financial services businesses into profitability and sustained growth. Becoming Director of BT’s ePayments division in 2002, he possesses over 20 years of senior and executive experience in financial services and payments. Throughout his career, David has placed a strong emphasis on innovation, regulatory compliance and commercial growth.

After seven years at BT, latterly as Managing Director of Click and Buy Europe, in 2008 David became CEO of Paysafecard UK. In 2010, he became CEO of e-payments business, Ukash overseeing its pivot to profitability, four consecutive Queen’s Enterprise Awards and its eventual sale to international private equity business, CVC Partners. Following the sale, David served as Chairman of several high-growth financial services businesses, including regulatory technology start-up W2 and Banking-as-a-Service platform, Pannovate. David has spent nearly 10 years on the board of The Payments Association, most recently as Chairman.

At Tap, David will work alongside the board and directly with David Carr, Group CEO, Arsen Torosian, Group CSO and Kriya Patel, CEO designate of Tap Global Limited to oversee the business to profitability and sustainable growth, building on the Company’s momentum since listing both in terms of user growth and breadth of offering.  He will also sit on the Remuneration and Audit Committees.

Further information on David John Hunter (Aged: 57)

Current Directorships Past Directorships (within the last 5 years)
IMPACT CATALYST LTD Choice International Limited
Helicity Limited
Emerging Payments Ventures limited
Emerging Payments Limited
Parallel Payments UK LTD
Pannovate Limited
Andromeda Bridge Corporation Limited
Change Account Limited
Mediaform Limited
W2 Global Data Solutions LTD
Shopalot LTD

There is no further information regarding David John Hunter, that is required to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

David John Hunter currently holds no ordinary shares and no options in Tap.

Grant of Long-Term Incentive Plan Options (“LTIP Options”)

Tap has agreed to grant certain LTIP Options to David Hunter following his commencement of employment.  He will receive 500,000 LTIP Options which will vest on achievement of the Milestone 1 Revenue targets.  Once vested these will be exercisable at a price of 4.5p per option. In addition, he will receive 500,000 Milestone 2 LTIP options which will be exercisable at the nominal share price. 

As announced previously (Admission Document 16 December 2022) the Milestone Revenue targets are:

Milestone 1 - £4.2m of revenue at 30 June 2024

Milestone 2 - £8m of revenue at 30 June 2024

David Carr, Chief Executive Officer of Tap, commented:

“David Hunter is a titan of the payments industry whom collectively we have known for many years. I am delighted he has agreed to join Tap as Chairman. He brings a wealth of experience and expertise to our business and will be a tremendous  asset to the team. I am confident that David will help us build on the success Tap has experienced during its early life as a publicly traded company. 

Following the appointment of Kriya Patel as CEO of the operating business we believe that Tap now possesses a world-beating team to continue our rapid acceleration and growth in an environment that will be dominated by regulated operators demonstrating keen Corporate Governance and a focus on delivering customers a trusted platform.”

David Hunter, Chairman designate of Tap, said:

“I am delighted to be joining Tap at such an exciting time in its growth.  The Company has approached and weathered the considerable challenges in the wider crypto and payments environments in exactly the right way and as a result is primed to expand both geographically and commercially. Working alongside Kriya and the board to ensure this growth is executed in the most optimal way will be my strategic priority from day one, and I look forward to getting started in June.”

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


Tap Global Group Plc 
David Carr, Chief Executive Officer
Via Vigo Consulting
Peterhouse Capital Limited (AQSE Growth Market Corporate Advisor)
Guy Miller/Narisha Ragoonanthun
+44 (0)20 220 9795
Vigo Consulting (Investor Relations)
Ben Simons / Charlie Neish
+44 (0)20 7390 0230

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. 

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