Directorate Change and Relationship Agreement

TruFin plc 
("TruFin" or the "Company" or together with its subsidiaries "TruFin Group")

The Company is pleased to announce the appointment of Mr Anders Wilhelmsen as a Non-Executive Director with immediate effect. Mr Wilhelmsen is appointed as a representative of Watrium AS (“Watrium”), pursuant to a Relationship Agreement which has been entered into between the Company and Watrium. 

Mr Wilhelmsen has a financial background, with an MA Honours in Financial Economics from the University of St Andrews, and an MBA from INSEAD. He previously held a position at Morgan Stanley, and currently serves as Chief Investment Officer and Chairman of Watrium, Director at Sensio, and Shadow Director at HitecVision AS.

The purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on its business independently at all times. In accordance with the terms of the Relationship Agreement, Watrium is entitled to appoint one Non-Executive Director for as long as they retain an aggregate interest equal to or greater than 15 per cent in the issued ordinary share capital of the Company. Watrium currently holds an interest of 21.02 per cent.

Commenting on the appointment, Independent Non-Executive Chairman, Steve Baldwin, said:

“We are delighted to welcome Anders to the Board. As a long-standing and very supportive shareholder, Watrium have significant experience and knowledge of the Group’s businesses. Anders brings considerable expertise in designing and implementing growth strategies which will greatly benefit the Group going forward.”