Falanx Group Limited – Directorate Change

Falanx Group Limited – Directorate Change

Falanx Group Limited, the AIM listed global cybersecurity and intelligence provider, announces that Alexander Hambro is joining the Board as Non-Executive Chairman with immediate effect.  Mike Read who has been acting CEO and Chairman since November 2017 will continue in the role of CEO. 

Alex has been active in the investment sector both in the UK and the USA for some 30 years, during which time he has acted as a principal investor, manager and sponsor of private equity and venture capital management teams.

As well as his responsibilities at Falanx, Alex is a co-founder and Chairman of Judges Scientific plc, a group of scientific instrumentation companies.  In addition to his two AIM company chair responsibilities, Alex is also Chairman of Crescent Capital Ltd and Bapco Closures Holdings Ltd and a Non-Executive Director of Octopus Apollo VCT plc, Hertsford Capital plc, Time Partners Holdings Ltd and Whitley Asset Management Ltd. 

Alex is currently a principal at Welbeck Capital Partners, a specialist in the creation of secured convertible loan notes and other hybrid equity solutions to finance growth opportunities for small-cap AIM companies and which has supported Falanx during recent fundraisings.

Commenting Mike Read, CEO, said: "I am delighted that Alex has joined us. He brings considerable corporate finance and corporate governance experience to the business and his appointment as Non-Executive Chairman will allow me to focus on my role as CEO and drive forward our growth plans. Our changes to the Articles also underpin our strengthening corporate governance plans. We plan to appoint an additional experienced non-executive director in the coming few months." 

Alex Hambro, Non-Executive Chairman, said: "I know the team at Falanx well and I am excited by the growth opportunities in the cyber security sector and Falanx's expansion plans within that framework.  Mike and his team are well-positioned and experienced in making and integrating acquisitions and I am looking forward to supporting their growth."

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