4th Dec 2018 14:38
LONDON (Alliance News) - Orchard Funding Group PLC on Tuesday said Independent Non-Executive Director Iacovos Koumi resigned with immediate effect.
The insurance specialist said Koumi resigned due to personal reasons, but will remain available to advise the company in its plans for becoming a bank during 2019.
Orchard Funding said it intends to make a further independent non-executive appointment in due course.
"We thank Iacovos for his contributions to the company since his appointment in February 2017, where we has brought valuable banking and finance experience to the board and played a key part in assisting with the banking licence process," said Non-Executive Chairman Gary Jennison.
"We are pleased that he will remain available to the company in an advisory capacity," added Jennison.
Orchard Funding shares were trading 1.0% lower on Tuesday at 96.04 pence each.
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