Regulatory News

Directorate Change

Equals (AIM:EQLS), the fast-growing B2B focused e-banking and international payments group, announces that at the Company’s General Meeting held earlier today, all resolutions put to shareholders were voted on the basis of a poll of shareholders votes and were duly passed.  The results of the proxy voting position received in advance of the meeting can be viewed at www.equalsplc.com.

The Company also announces that Ajay Chowdhury has decided to step down from his position as a Non-Executive Director of the Company with immediate effect to pursue other business interests.

Alan Hughes, Non-Executive Chairman of Equals, commented: "On behalf of the Board and shareholders, I would like to thank Ajay for his valued contributions and support to the Company over the last six years since our IPO on AIM and we wish him continued success."

The Company has initiated a process to recruit a successor and will provide an update in due course. 

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Notes to Editors:

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model.  The Group enables its personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies across a range of products all via one integrated system.

Equals provides money movement services to both business and personal customers through five inter-connected channels - International Payments, Corporate Expenses platform, Bank Accounts, Travel Money (comprising currency cards and physical currency).  International Payments channel supports wire transfer foreign exchange transactions direct to bank accounts.  For corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card which yields significant cost savings via tighter control on expenses before they are incurred coupled with eliminating inefficient processes.  Equals also offers business and retail bank accounts with all the functionality offered by banks, namely faster payments, BACs, direct debits, international payments and a debit card.  The Travel Money offerings (retail currency card and physical currency) represent cost-effective and secure methods for travelers to spend abroad.