Midpoint Holdings Ltd.
TSX VENTURE : MPT

Midpoint Holdings Ltd.

December 18, 2017 11:00 ET

Midpoint Appoints Andrew Jones as Chief Technology Officer

LONDON, UNITED KINGDOM--(Marketwired - Dec. 18, 2017) -

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Midpoint Holdings Ltd. (TSX VENTURE:MPT) ("Midpoint" or the "Company") is pleased to announce that Andrew Jones will join the firm as Chief Technology Officer.

Mr. Jones was previously a managing director and European and Asia Pacific region CTO for the Depository Trust & Clearing Cooperation (DTCC). Prior to DTCC, Mr. Jones served as a managing director and Global CTO for Electronics Markets at Macquarie Group. Mr. Jones was also CTO for Deutsche Bank Asia Pacific Equity Division.

Andrew began his career at Morgan Stanley where he held a variety of global and regional front-to-back transformational change leadership and delivery management roles over a career spanning 25 years having worked in New York, London, Tokyo and Hong Kong. During his time at Morgan Stanley, Andrew held a variety or senior roles including Global IT Head of Foreign Exchange where he was responsible for the development and support of Morgan Stanley's global FX sales and trading platform. He also served as IT Development Head for APAC Securities Division, as well as IT Development Head APAC Brokerage Operations and Finance. Andrew has an MBA from Chicago Booth School of Business

"We are thrilled to have Andrew join the Midpoint's senior management team. He brings a wealth of experience and shares our commitment to technology and innovation like no one else we've met," said David Wong, President and CEO of Midpoint. "Andrew has shown himself to be an extraordinary leader throughout his career with a proven track record in leading and building financial technology companies at scale."

"I am pleased to join Midpoint as a member of its senior management and operation team. In addition to tackling some of the most compelling challenges in cross-border payments, FX and e-commerce against a backdrop of emerging technologies such as blockchain, digital and crypto currencies, I am excited about the opportunity to work with Mr. Wong and his management team. David has achieved a remarkable turnaround in the business and I am pleased to join this forward-thinking and innovative team and contribute to the Company's long-term success," said Andrew Jones.

In conjunction with this Appointment Mr. Jones has now entered into an executive services arrangement with the Company which includes the provision for the issuance to Mr. Jones of a vesting incentive stock option to acquire up to 3,125,000 common shares of the Company at an exercise price of $0.40 per common share and exercisable for up to five years from the date of grant based on certain milestones to be attained.

About Midpoint

Headquartered in London, Midpoint is an FCA authorized payments institution with the world's first authentic peer-to-peer ('P2P') foreign exchange marketplace. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint's US patent protected platform for transparent, multi-party, multi-currency services.

Midpoint is currently handling transactions in 23 currencies with the ability to collect and transfer across 72 countries. This highly secure platform provides customers with the most cost-effective FX at the midpoint of the interbank buy/sell rate therefore removing the spread as well as hidden costs and fees.

Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.

Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this news release.

Forward-looking information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint's Management's Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Contact Information

  • Corbin Comishin
    Chief Financial Officer
    Midpoint Holdings Ltd.
    (250) 352-7667

    David Wong
    26 Finsbury Square
    EC2A 1DS
    London, United Kingdom
    +44 20 7448 3081