TechFinancials issues Cedex update and board changes

Fintech provider TechFinancial, announced that its Board has decided to exercise its option over Cedex Holdings Limited as outlined in the circular from 2019 regarding the company’s investment. TechFinancials will hold 97.3% of Cedex’ issued share capital which amounts to 90.81% on a fully diluted basis.

The Board of the company will continue to search for ways to maximise its investment in Cedex and for opportunities to commercialise its technology. TechFinancials will consider selling all or part of the interest in Cedex to a third party if it benefits the company.


Additionally, TechFinancials announced that Eitan Yanuv will move from independent Non-Executive Director to Non-Executive Chairman of the Company effective 1 April 2020. Yanuv has been Chairman of the Audit Committee for 5 years and has substantial experience in the company.
His predecessor, Chris Bell, has been the Non-Executive Chairman since IPO and is now stepping down.

Asaf Lahav, CEO said:

We wish Chris our best for the future and thank him for his major contribution to the Company.

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