Tally Central Ltd

Management Reports • Feb 26, 2021

National Storage Mechanism | Additional information

RNS Number : 5914Q

Tally Ltd

26 February 2021

TALLY LTD

("Tally" or the "Company")

Board Changes

26 February 2021

Tally Ltd, the money innovator and digital Non-Bank Financial Institution ("NBFI") behind the full-reserve banking platform and physical gold monetary system, tally®, is pleased to update shareholders about board changes completed today.  Mr Alan Davies has joined the board of Tally as a Non-Executive Director and Mr Ralph Hazell has stepped down as a Director.

Mr Davies, aged 50, is a highly regarded global executive and experienced public company director.  He is CEO of copper mining and natural resources company Moxico Resources PLC and Non-Executive Director of ASX-listed company ioneer Limited.  He is the former Chief Executive of Energy and Minerals at FTSE-100 company Rio Tinto PLC, and has more than twenty years' experience in operational and strategic business development across multiple jurisdictions, including ten years of direct project responsibility for Rio Tinto in India.

Mr Davies is a former Non-Executive Director of FTSE-100 company Rolls Royce Holdings PLC and he holds a Bachelor of Business, Bachelor of Laws, a Master of Laws and is a Fellow of the Chartered Accountants in Australia and New Zealand.

In line with the Company's public capital raising plans this year, Mr Luke Cairns has been appointed Company Secretary commencing the 1 March 2021.  Mr Cairns is currently an Executive Director of AIM-quoted N4 Pharma PLC and a Non-Executive Director of AIM-listed technology company, FastForward Innovations Ltd.  He is an Associate of the Charted Institute of Secretaries and has worked with many growth companies across a number of sectors on a wide range of transactions, including IPOs, secondary fundraisings, corporate restructurings and takeovers.

Cameron Parry, Chief Executive Officer and Founder, commented: "I am delighted to announce the appointment of Alan Davies to the board of Tally Ltd as a Non-Executive Director and the appointment of Luke Cairns as Company Secretary.  Both bring deep public company knowledge and experience across multiple industries and markets.

As outlined in the Q4 2020 update, Tally has been moving into its next phase of business development, which requires increased structure and measures to drive the Company forward.  Ralph Hazell's health has been below par since he contracted Covid in March 2020 and in light of the increasing demands of Tally, Ralph decided to step down from the board and from his role as Head of Treasury and MLRO (Money Laundering Reporting Officer) that he had been performing for the last year on a part-time basis.

Ralph's been a big part of the early Tally story.  As co-founder and our inaugural Chief Platform Officer, working with me on the initial concept and helping bring the proof-of-concept smartphone app to market, that initially ran on the platform he'd developed for his online precious metals exchange business, The Real Asset Co.  Ralph remains a significant shareholder in Tally Ltd, so we hope to still see him around on occasion, and in any case, we're thankful for his efforts and wish him well."

For further information or if shareholders have any queries, please contact our office via [email protected]

Enquiries:

Cameron Parry (Chief Executive Officer)	Tel: +44 (0)20 3490 6210
[email protected]	www.tallymoney.com

About TALLY

·    Tally Ltd is the money and banking innovator behind tally® - the full-reserve banking platform and physical asset money designed by the private sector, that operates seamlessly with government fiat currency and the fractional-reserve banking system.

·   Each unit of tally® is one milligram of LBMA-accredited gold vaulted in Switzerland on behalf of the customer and utilised by the customer via their individually issued bank account and contactless debit card.

·     tally® is not a fiat currency and tally® is not a cryptocurrency.

·   The tally® banking platform connects physical asset ownership to the global banking system and enables instant liquidity to save, spend and send the physical asset value as money.

·    Tally's wholly owned UK subsidiary company, TallyMoney Ltd, is a recognised E-Money Directive Agent (FCA Ref. No. 902059) under Financial Conduct Authority-licensed E-Money Institution, PayrNet Limited (FCA Ref No. 900594).

·    The tally® banking App is available on iPhone and Android by searching TallyMoney on the Apple App Store or Google Play Store.

·  Tally also currently has significant investment ownership in financial technology company Railsbank Technology Ltd, leading India gold exploration company Geomysore Services India Pvt Ltd and Finland gold exploration joint venture company Kalevala Gold Oy.

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