PayPoint plc : Directorate change

12 May 2017

PayPoint Plc ("PayPoint")

Directorate / Board Changes

PayPoint is pleased to announce the appointment of Rakesh Sharma to its board as a non-executive director with effect from 12 May 2017.

Rakesh is the Chief Executive of Ultra Electronics Holdings Plc (Ultra). Rakesh has held several senior and management positions within Ultra and has managed businesses and divisions across the full range of its wide portfolio, with consistent success in driving growth in the Ultra group.

Following this appointment, Rakesh will succeed Neil Carson as chairman to the remuneration committee of the PayPoint board and will also be a member of the audit and nomination committees. In line with the directorate change announcement contained in the 2016 half year financial report, Neil will be stepping down as a non-executive director prior to the 2017 annual general meeting.

Nick Wiles, Chairman, said:                                                                                                    

"I would like to take this opportunity to thank Neil for his contribution as chairman of the remuneration committee during his time on the board. I would also like to welcome Rakesh. His     appointment to the board strengthens its composition in terms of relevant experience, knowledge and skills and the board looks forward to working closely with him"

There are no further disclosures required for the purposes of Listing Rules 9.6.11 and 9.6.13.

Enquiries

PayPoint plc                                                                        RLM Finsbury
01707 600 300                                                                    0207 2513 801
Susan Court, Company Secretary                              Rollo Head

ABOUT PAYPOINT

We support market leading national networks across 39,000 convenience stores in the UK and Romania so that our customers are always close to a PayPoint store. In thousands of locations, as well as at home or on the move, people use us better to  control  their household finances, essential payments and in-store services, like parcels. Our UK network contains more branches than all banks, supermarkets and Post Offices together, putting us at the heart of communities for over 10 million regular weekly customers.

We have a proven track record of decades of tech-led innovation, providing retailers with tools that attract customers into their shops. Our industry-leading payments systems give first class service to the customers of over 1,500 clients - utility companies, retailers, transport firms and mobile phone providers, government and more.

We are on and offline; providing for payments by cash, card including contactless; retail, phone and digital; at home, work and whilst out and about from Land's End to the highlands and islands - helping to keep modern life moving.

Multichannel payments

We offer clients streamlined consumer payment processing and transaction routing in one, seamlessly integrated solution, through MultiPay. This gives customers the flexibility to pay in the way that best suits them; including mobile app, online, text, phone/IVR and cash in-store.

MultiPay is live with Utilita, a fast growing challenger energy supplier. We have signed several other energy companies, a framework agreement with Procurement for Housing and, significantly, Scottish and Southern Energy, our first Big 6 energy client

Retail networks

In the UK, our network includes over 29,000 local shops including Co-op, Spar, Sainsbury's Local, Tesco Express and thousands of independent outlets. These outlets are quick and convenient places to make energy meter prepayments, bill payments, benefit payments, mobile phone top-ups, transport tickets, TV licences, cash withdrawals and more.

Our Romanian network continues to grow profitably.  We have more than 10,200 local shops, helping people to make cash bill payments, money transfers, road tax payments and mobile phone top-ups. Our clients include all the major utilities and telcos and many other consumer service companies.

In the UK, our Collect+ network offers parcel collection and return services in nearly 6,000 convenient outlets. Customers use Collect+ for their parcels from major retailers including Amazon, eBay, ASOS, New Look, John Lewis, House of Fraser, M&S and Very. The Collect+ brand is jointly owned with Yodel.

The UK network also includes over 4,200 LINK branded ATMs, and 10,000 of our terminals enable retailers to accept debit, credit and contactless payments, including Apple Pay.

We operate over 3,000 Western Union agencies in the UK and Romania for international and domestic money transfers.

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Source: PayPoint plc via Globenewswire