TAP.AQSE

Tap Global Group Plc
Tap Global Group Plc - Appointment of Strategic Adviser, Trading Update & Share Price
15th November 2024, 07:00
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15 November 2024

Tap Global Group Plc

("Tap Group" or the "Company")

Appointment of Company Strategic Adviser

Trading Update and Share Price Rise

Tap Global Group Plc(AQSE: TAP), the regulated crypto app bridging the gap
between traditional finance and blockchain technology, is pleased to announce
the appointment ofPeter Wallas Strategic Adviser to the Company with immediate
effect. Peter has already begun acting in an advisory capacity to the Company.

The Company intends to appoint Peter as Non-Executive Chairman of the Company,
subject to satisfactory due diligence checks being completed.

Peter is a seasoned executive with extensive experience in scaling early-stage
tech companies. Formerly the CEO of Argo Blockchain plc, he successfully led the
company through a period of rapid growth, including a public listing on Nasdaq
following its initial success on the London Stock Exchange.

In his new role with Tap Group, Peter will focus on building high-performing
teams and positioning the Company as an attractive investment proposition,
underpinned by accelerated business growth, improving operational efficiencies,
and stronger investor engagement.

John Taylor, Non-Executive Director, will assume the role of Interim Chairman
whilst regulatory due diligence is being completed on Peter.

Grant of Options

To incentivise Peter to drive long-term growth reflected in Company valuation,
he will be granted 30,000,000 share options exercisable for up to 10 years at a
price of 2.5p per ordinary share. The options will vest according to the
schedule below:

+---+------------------------------------------+
|25%|Six months after date of grant            |
+---+------------------------------------------+
|25%|On share price reaching a bid-price of 15p|
+---+------------------------------------------+
|25%|On share price reaching a bid-price of 25p|
+---+------------------------------------------+
|25%|On share price reaching a bid-price of 50p|
+---+------------------------------------------+

The vesting criteria requires the recipient to remain engaged by the Company at
the time of vesting. Share price targets require the share price to close at or
above each target for at least five days in a 20-day period.

Taking into account the vesting conditions attaching to the proposed options,
having exercised reasonable care, skill and diligence, the directors consider
that the proposed share option grant is fair and reasonable insofar as the
shareholders of the Company are concerned.

Trading Update and Share Price Rise

Tap Group announces its unaudited revenue for the financial year ended 30 June
2024 ("FY24") was £2.67m, up 33.5% from £2.0m the prior financial year ("FY23")
(which included a six-month contribution from Tap Global Limited, acquired mid
-period). This was achieved while navigating regulatory changes and payment
processing disruptions, and alongside strategic cost optimisation initiatives to
improve profitability in the current financial year and beyond.

Tap Group is also pleased to confirm the first four months of the current
financial year   have each produced increasing revenue figures, reflecting
product improvements, market sentiment, and fee calibration.

The Company notes the recent share price movements and confirms that, except for
the above trading update, and the appointment of Peter Wall, there is no
material information to report to the market.

Company CEO to assume CEO position of wholly owned subsidiary

Arsen Torosian will, subject to regulatory approval, assume the role of CEO of
Tap Global Limited, the Company's wholly owned subsidiary in Gibraltar.

Arsen Torosian, CEO of Tap Group, said:

"We are delighted that Peter Wall has agreed to join Tap Group.  It is evident
that Peter intends to take a very hands-on approach in assisting the business to
develop and reach its potential. Peter's experience, particularly in relation to
leading the growth of listed tech companies, will be invaluable as Tap Group
seeks to accelerate its growth from the strong foundations that have been built
over the last two years. Peter's expertise in communications, culture building,
and capital markets will undoubtedly offer Tap Group a strategic edge in
services which are highly demanded by consumers but challenging for other
operators to deliver."

Peter Wall, strategic advisor to Tap Group, said:

"I believe Tap Group contains all the elements for a real growth story in the
coming months. The foundations laid by the current team, based on organic
growth, a lean operations base, and an international footprint, provide the
ideal springboard for focused scaling. Communicating the investment opportunity
to the wider markets will be a primary area of focus for me, as will injecting a
culture of operational excellence within the internal team. I look forward to
working closely with the team and engaging our investor community."

The Directors of the Company accept responsibility for the contents of this
announcement.

Enquiries:

Tap Global Group Plc               via Vigo Consulting
Arsen Torosian, Chief Executive
Officer
Peterhouse Capital Limited (Aquis  +44 (0)20 7220 9795
Growth Market Corporate Advisor)
Tennyson Securities (Broker)       +44 (0)20 7186 9030
Peter Krens
Alan Howard
Vigo Consulting (Investor          +44 (0)20 7390 0230
Relations)
                                   tapglobal@vigoconsulting.com
Ben Simons
Kendall Hill
Peter Jacob

About Tap Global Group Plc

Tap Global Group Plc ("Tap Group") bridges the gap between traditional finance
and blockchain technology. It offers over 350,000 individual and business
customers an innovative and fully integrated fiat payments and cryptocurrency
settlement service including access to several major cryptocurrency exchanges.
Through the Tap app, customers can trade up to 48 cryptocurrencies and store
them directly in their customer wallet, while benefiting from proprietary AI
middleware for real-time best-execution and pricing.

Tap Group's European business, Tap Global Limited, was the first cryptocurrency
FinTech company to be approved by Mastercard in Europe. Through the Tap card,
European users can convert their cryptocurrencies to fiat and spend at more than
37 million merchant locations worldwide.

Investor website: www.investor.tap.global

Tap Group's operating subsidiaries

Tap Global Limited serves the European customer base and is registered in
Gibraltar and licensed and regulated by the Gibraltar Financial Services
Commission under the DLT with licence No. 25532.

Tap Americas LLC serves the US customer base and is a limited liability company
organised under the laws of the state of Florida. Cryptocurrency services are
provided by Zero Hash, a Chicago-based B2B2C crypto infrastructure platform.

Learn more: www.withtap.com

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/tapglobal/

X (formerly Twitter): https://twitter.com/TapGlobalPlc

+--+--------------------+------------------------------------------------------
-+
|1.|Details of the
|
|  |person discharging
|
|  |managerial
|
|  |responsibilities/per
|
|  |son closely
|
|  |associated
|
+--+--------------------+------------------------------------------------------
-+
|a)|Name                |Peter Wall
|
+--+--------------------+------------------------------------------------------
-+
|2.|Reason for the
|
|  |notification
|
+--+--------------------+------------------------------------------------------
-+
|a)|Position/status     |Strategic Advisor
|
+--+--------------------+------------------------------------------------------
-+
|b)|Initial             |Initial Notification
|
|  |notification/Amendme|
|
|  |nt                  |
|
+--+--------------------+------------------------------------------------------
-+
|3.|Details of the
|
|  |issuer, emission
|
|  |allowance market
|
|  |participant,
|
|  |auction platform,
|
|  |auctioneer or
|
|  |auction monitor
|
+--+--------------------+------------------------------------------------------
-+
|a)|Name                |Tap Global Group Plc
|
+--+--------------------+------------------------------------------------------
-+
|b)|LEI                 |213800BF6GRJEOAQNP31
|
+--+--------------------+------------------------------------------------------
-+
|4.|Details of the
|
|  |transaction(s):
|
|  |section to be
|
|  |repeated for (i)
|
|  |each type of
|
|  |instrument; (ii)
|
|  |each type of
|
|  |transaction; (iii)
|
|  |each date; and (iv)
|
|  |each place where
|
|  |transactions have
|
|  |been conducted
|
+--+--------------------+------------------------------------------------------
-+
|a)|Description of the  |Ordinary Shares of 0.1 pence each
|
|  |financial           |
|
|  |instrument          |
|
+--+--------------------+------------------------------------------------------
-+
|b)|Identification code |GB00BMVSDN09
|
+--+--------------------+------------------------------------------------------
-+
|c)|Nature of the       |Grant of Options
|
|  |transactions        |
|
+--+--------------------+------------------------------------------------------
-+
|d)|Price(s) and        |Exercise price: 2.5 pence
|
|  |volume(s)           |
|
|  |                    |Volume: 7,500,000 vesting on 15 May 2025
|
|  |                    |
|
|  |                    |7,500,000 vesting on the Company's share price
reaching|
|  |                    |at least 15p
|
|  |                    |
|
|  |                    |7,500,000 vesting on the Company's share price
reaching|
|  |                    |at least 25p
|
|  |                    |
|
|  |                    |7,500,000 vesting on the Company's share price
reaching|
|  |                    |at least 50p
|
+--+--------------------+------------------------------------------------------
-+
|e)|Aggregated          |30,000,000 options
|
|  |information         |
|
|  |                    |Exercise price: 2.5 pence
|
|  |- Aggregated volume |
|
|  |                    |
|
|  |- Price             |
|
+--+--------------------+------------------------------------------------------
-+
|f)|Date of the         |15 November 2024
|
|  |transactions        |
|
+--+--------------------+------------------------------------------------------
-+
|g)|Place of the        |Off market
|
|  |transactions        |
|
+--+--------------------+------------------------------------------------------
-+

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