– UK – @UK plc (AIM:ATUK.L), the cloud eCommerce marketplace, is pleased to announce the appointments, effective today, of Patrick (Paddy) Broughton and David Chellingsworth as Non-executive Directors of the Company.
Patrick, who is based in Australia, joins the Company as President of Asia Pacific. He is a very experienced banker who from 1987 to 1995 worked at JP Morgan, rising to European Head of FX Sales, prior to joining SG Warburg in Sydney in 1997. From 1998 until 2009 he rose to Head of Equity Capital Markets at ABN AMRO Rothschild in Sydney before being appointed as Global Head of Equity Origination for RBS and Chief Executive of Hoare Govett in London, a position which he held until 2012. He is currently Chairman of the Dixon Advisory Investment Committee.
David is a qualified Chartered Accountant and was formerly the Finance Director of @UK between 1999 and 2001, before its flotation on AIM. He spent the majority of his career at British Gas. Subsequently, he served as Finance Director of Advanced Medical Solutions from 1994 to 1999 where he oversaw its successful flotation on the Official List in 1996. Since leaving @UK, David has acted as Finance Director of private companies, including Cyworks plc and Medtrade Limited and acted as financial consultant at UK Biobank Limited. It is intended that David will chair the Company’s audit committee.
The board will have the following structure following these appointments:
- · Ronald Duncan, Chairman and Chief Information Officer
- · Lyn Duncan, Chief Executive Officer
- · David Holloway, Senior Non Executive and Chairman of Appointments Committee
- · David Chellingsworth, Non Executive and Chairman of Audit Committee
- · Patrick Broughton, Non Executive and President Asia Pacific
About @UK PLC
@UK is Europe’s leading transactional Cloud Platform with over 1 million users. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading. The technology is unique in the B2B market, in that it delivers the B2C internet shopping experience in a business environment. The platform has been rebranded to cloudBuy.com for global expansion with Visa and partner banks. The platform is PCI DSS accredited, providing secure, integrated financial transactional capability, delivering savings to both the buyer and the supplier through greater accounts payables accuracy, reduction of manual processes and elimination of paper.
@UK provides an immediate business case using SpendInsight. SpendInsight was developed to recognize, match and classify products and services, providing buyers with greater visibility to spend data, and supports the identification of cashable savings, through unique product level matching artificial intelligence. The output from this is then passed to the Visa member bank, for analysis by Visa to identify which suppliers accept card payments currently and compute the potential card rebate to fund the B2B ecommerce platform.
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