MoneySwap names Craig Niven as Chairman of its Board of Directors while Sunny Yu is appointed CEO

– UK, London – MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, announces the following changes to its Board of Directors.

With immediate effect Mr Craig Niven, currently a non-executive director of the Company, has assumed the role of Chairman of the Company and Ms. Yu Shu Fen (‘Sunny Yu’), who was appointed to the Board as an Executive Director on 11 November 2015, has been appointed as the Company’s Chief Executive Officer.

Mr Kung Min Lin, currently Chairman and Chief Executive Officer of the Company and Mr Richard Proksa have both today stepped down as directors of the Company. Going forward both will act as consultants to the Company, Mr Lin will assist the Company in its fundraising activities and Mr Proksa will continue to assist the Company develop its business in Europe, Middle East and Africa and the Americas.

Craig Niven commented: “I would like to thank both Richard and Kung Min for all their work for the Company since its listing on AIM in 2011. Their continuing assistance as consultants will greatly assist the management team in the future. MoneySwap’s business has developed and there are considerable opportunities so I am delighted to be working with Sunny Yu who, since her appointment to the Board, has demonstrated her credentials to lead MoneySwap.”

About MoneySwap

MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China. The Company also offers an online peer to peer platform for currency exchange and payments. The Company’s shares are traded on the London Stock Exchange’s AIM market (AIM: SWAP).

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