31st Mar 2016 12:37
LONDON (Alliance News) - MoneySwap PLC, a payments provider to merchants licensed for UnionPay in the UK, which also enables people overseas to send funds directly to UnionPay cardholders in China, on Thursday said it has mutually agreed with former director Richard Proksa that he will cease to act as a consultant to the company.
"No payments were made or are due to Mr Proksa for any consultancy services provided since he ceased to act as a director for MoneySwap," the company said in a statement.
Kung Min Lin, former chairman and chief executive of MoneySwap, will continue to be available to provide "ad hoc consultancy services" to the company, MoneySwap said, although "no formal consultancy arrangement" has been entered into with him.
Lin and Proksa stepped down as directors of the company in December, when it was announced that both would act as consultants.
Lin, who was already chairman, assumed the role of chief executive officer in November. Proksa, who had been chief executive officer, continued as a director and chief executive of Europe, Middle East and Africa and the Americas, after Lin became chief executive officer.
Shares in MoneySwap were untraded at 0.100 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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