REG - ICFG Limited - Board and Management Changes

ICFGAnnouncement

20/08/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250820:nRST0556Wa&default-theme=true

RNS Number : 0556W  ICFG Limited  20 August 2025

20 August 2025

 

ICFG LIMITED

("ICFG" or the "Company")

 

Board and Management Changes

ICFG (LON: ICFG) announces that Oliver Fox has resigned as Chief Executive
Officer ("CEO") of the Company with immediate effect. In addition, Benjamin
Proffitt has resigned as Chief Financial Officer ("CFO"), a non-Board role,
with immediate effect. Their resignations follow the successful completion of
the reverse takeover ("RTO"). The Board would like to thank Oliver and
Benjamin for their contributions to ICFG, in particular their key roles in
delivering the RTO transaction.

In addition, Robert Shepherd has resigned as an independent non-executive
director of the Company. The Company has commenced the search and selection
process, and Robert has agreed to remain in his role for the duration of his 3
month notice period to ensure a smooth transition. Further announcements will
be made in due course.

As the Company enters a new chapter post-RTO, the Board has resolved to make
the following interim appointments from within the Group, individuals who have
an in-depth understanding of the business:

Enkhmaral (Ema) Batkhuyag, currently Vice President of ICFG PTE Ltd, will
assume the role of interim Chief Executive Officer with immediate effect and
it is the Board's intention to appoint her as an Executive on the Board,
subject to the customary due diligence.

Ema has over 14 years of experience in legal practice and investment banking.
She joined InvesCore Capital LLC in 2018. She previously held roles acting as
Chief Operations Officer of InvesCore Capital LLC and leading InvesCore NBFI's
initial public offering on the Mongolian Stock Exchange, and currently serves
as a Board Director at Invescore NBFI JSC. Ema is based in Singapore and
speaks fluent English

Tserennadmid (Nadmid) Ganbaatar, currently CFO of SIBJ Capital LLC, a
subsidiary of ICFG in Mongolia, has been appointed as interim Chief Financial
Officer of the Company.

Nadmid joined SIBJ Capital LLC in early 2024 at and previously held senior
finance roles at Cummins Mongolia and PwC Audit LLC, as well as serving as
Head of International Cooperation at MonICPA. She is a Fellow of the
Association of Chartered Certified Accountants (FCCA), a Member of CPA
Australia (CPA), a Lifetime Member of the Mongolian Institute of Certified
Public Accountants (CPA), a Member of the Association of Certified Public Tax
Accountants (CPTA), and a Mongolian Certified Auditor. Nadmid was closely
involved in the RTO process and is also a fluent English speaker.

The process to appoint a permanent CEO and CFO has commenced, and further
announcements will be made in due course as appropriate.

For further information, please contact:

ICFG Limited

Via IFC

Strand Hanson Limited (Financial Adviser)

Rory Murphy / Abigail Wennington / David Asquith

+44 (0) 207 409 3494

Novum Securities (Broker)

Jon Bellis / Colin Rowbury

+44 (0) 207 399 9400

IFC Advisory Limited (Financial PR and IR)

Tim Metcalfe / Zach Cohen

+44 (0) 203 934 6630

LEI: 213800C7BC4EZQAEBT76

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAPMMATMTBTMFA