Tally Ltd has appointed two directors with âdeep public company knowledgeâ as it looks to grow and raise funds on the public markets later this year.
The digital non-bank financial institution, which operates the tally physical gold monetary system and full-reserve banking platform, said Alan Davies has joined its board as a non-executive director and Luke Cairns has been appointed company secretary .
Davies, a former divisional chief at FTSE 100 giant Rio Tinto, is currently chief executive of mining company Moxico Resources and has NED experience at Rolls Royce Holdings and ASX-listed Ioneer Ltd.
He 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.
Tally said Cairnsâs appointment was in line with its public capital raising plans this year.
An associate of the Charted Institute of Secretaries, Cairns is currently an executive director of N4 Pharma and a NED at FastForward Innovations, both of which are listed on AIM.
He 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, Tally noted.
Ralph Hazell has, meanwhile, stepped down as a director from the board, having been carrying out the head of treasury and money laundering reporting officer on a part-time basis.
Cameron Parry, Tallyâs chief executive officer and founder, said Davies and Cairns âbring deep public company knowledge and experience across multiple industries and marketsâ.
âAs 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.â
He added: âRalph 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 boardâ.
âRalph'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.
âRalph 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.â