Falanx Group Limited - Directorate Change

Cloudified Holdings

18/10/2022 07:00

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RNS Number : 1666D  Falanx Group Limited  18 October 2022

 

 

 

Falanx Group Limited

("Falanx", "Group" or "the Company")

Directorate Changes

Falanx Group Limited (AIM: FLX), the AIM listed provider of cyber security
services, is pleased to announce the appointment of William Kilmer as an
independent Non-Executive Director and Richard "Rick" Flood as an Executive
Director and with immediate effect.

William Kilmer is an entrepreneur, venture capital investor, and author who
has helped found and invest in dozens of companies around the world over his
twenty-five-year career in the technology industry. He is currently a senior
advisor for investments and company building at Gallos, an investor in the
security technology sector. He was previously the managing partner of C5
Capital, a specialist venture capital fund investing in cyber security, cloud
infrastructure, applied data analytics, and space economy companies until
March 2022. He has been founder and CEO of several cybersecurity and data
analytics companies, formed a wireless operator in the UK, and has served on
the board of several technology companies and other organizations. William
previously served as the managing director of Intel Capital, a corporate
venture capital fund where he managed European investments and formed a
targeted venture fund to invest in the Middle East and North Africa. William
will chair Falanx's audit committee.

Rick Flood has been with Falanx Cyber for just over 5 years, becoming its
Managing Director in 2019. Since taking responsibility for this division, Rick
has been instrumental in driving the transformation from old to new
technologies, the division's subsequent return to profitability in H1 FY22,
and the current investment in growth.  He is a veteran of the software and
technology space and an advocate of SaaS/Cloud adoption for 15+ years. Rick
initially trained as an accountant in industry with CIMA and soon switched to
the software sector and ultimately to sales and marketing, spanning more than
30 years and a variety of roles including executive positions in both private
and public companies. Rick has worked extensively with high growth and
early-stage enterprises, predominantly in the software sector. He has also
worked with stakeholders in various corporate recovery roles with undertakings
in distress and turnaround situations. His previous AIM experience was with
Earthport, Host Europe and Pipex, where he first worked with Mike Read.

 

Alex Hambro, Chairman commented

 

"I am delighted that William has joined Falanx.  He has extensive experience
in the cyber security sector in both investor and operational roles and so can
practically support the development of our cyber security business, as well as
providing further corporate governance expertise.  We are also pleased to
welcome Rick to the board.  Rick possesses long-held expertise in delivering
contract wins and revenue growth and has made a huge impact on the expansion
of Falanx's pipeline of new client opportunities"

In accordance with Schedule 2(g) of the AIM Rules, William Edward Kilmer, aged
57, holds or has held in the past five years the following directorships and
partnerships:

 Current Directorships  Directorships within last 5 years
 -                      ITC Global Security Limited
                        ITC Global Security Investments Limited
                        C5 Capital Limited
                        C5 Solutions Inc
                        Blue Cedar LLC
                        Oomnitza Inc
                        Synack Inc
                        Hazelcast
                        Constella Intelligence
                        C5 Accelerate
                        Haven Cyber Technologies

 

There is no further information required to be disclosed in respect of the
appointment of William Kilmer pursuant to Rule 17 and Schedule 2 (g) of the
AIM Rules for Companies.

In accordance with Schedule 2(g) of the AIM Rules, Richard Andrew Flood, aged
62, holds or has held in the past five years the following directorships and
partnerships:

 Current Directorships              Directorships within last 5 years
 Falanx Cyber Holdings Limited      Football Insights Limited
 Falanx Cyber Security Limited      Software Solutions For Business Limited
 Falanx Cyber Defence Limited
 Securestorm Limited
 Falanx Cyber Technologies Limited

 

Rick Flood has previously worked on behalf of debt and equity investors in
distress and turnaround situations. Consequently, there is an inherent risk of
corporate failure and despite achieving successful results in many cases,
there have been the following situations where the business has been through
an insolvency process or scheme of arrangement.

Rick Flood was a director of Xrio Limited, which entered into a voluntary
creditor's liquidation on 10 March 2014.  The estimated deficiency as regards
members at 10 March 2014 was £247,769.66.

Rick Flood was a director of JSA Services Limited, which entered into a CVA on
30 November 2009. It was completed on 31 May 2011 and the company continues to
trade.

Rick Flood was a director of 101010 Limited, which entered into a voluntary
creditor's liquidation on 7 April 2004.  The estimated deficiency as regards
members at 7 May 2004 was £1,265,050.00.

Rick Flood is the beneficial owner of 1,809,702 ordinary shares. He also has
the following interest in share options over ordinary shares;

·    5,000,000 share options which were granted on 25 September 2019 with
an exercise price of 1.925 pence per share.

·    4,999,200 share options which were granted on 21 April 2020 with an
exercise price of 1 penny per share.

Rick Flood entered into personal bankruptcy in March 2015 and was discharged
one year later, having fully satisfied creditor obligations.

There is no further information required to be disclosed in respect of the
appointment of Rick Flood pursuant to Rule 17 and Schedule 2 (g) of the AIM
Rules for Companies.

 

 

 

Enquiries:

 Falanx Group Limited              Via IFC

 Alex Hambro Chairman

 Mike Read CEO

 Ian Selby CFO

 WH Ireland Limited                + 44 (0) 207 220 1666

 Mike Coe/ Sarah Mather (Nomad)

 Joanna Hunt (Corporate Broking)

 IFC Advisory Ltd                  +44 (0) 203 934 663

 Financial PR & IR

 Graham Herring / Zach Cohen

 

 About Falanx

Falanx Group Limited, is a cyber defence provider providing enterprise class
defensive and offensive security solutions to SME. For further
information:  http://www.falanx.com/ (http://www.falanx.com/)

 

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