MICT Appoints Sir David Trippier to its Board of Directors

Rhea-AI Summary

MICT, Inc. (Nasdaq: MICT) has appointed Sir David Trippier as a non-executive member of its Board of Directors, bringing extensive leadership experience from various sectors. Sir David has previously chaired several companies, served as a UK Government minister, and was involved in the launch of the Alternative Investment Market (AIM). MICT's CEO, Darren Mercer, believes Sir David's expertise will aid the company's merger with Tingo and growth strategy in the fintech market. Sir David aims to leverage MICT’s technology platform to tap into underserved global populations.

Positive

• Appointment of Sir David Trippier expected to strengthen leadership and governance.
• Sir David's experience may enhance strategic execution during the merger with Tingo.
• Potential to reach underserved global markets with fintech solutions.

Negative

• None.

MONTVALE, N.J., May 17, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT) (“MICT” or the "Company"), today announces the appointment of Sir David Trippier as a non-executive member of its Board of Directors.

Sir David has served as Chairman or director of numerous private and public companies, including as Chairman of London Stock Exchange listed stockbrokers, W H Ireland Group plc, Chairman of Cambridgeshire Horizons and Non-Executive Director of Granada Television.

Prior to this, Sir David served in various ministerial positions in the United Kingdom Government between 1983 and 1992, having become a Member of Parliament of the United Kingdom in 1979. Between 1983 and 1987, Sir David was Minister for Smaller Firms and Enterprise and remained a Minister in various Departments until 1992, including as “Green” Minister where we was instrumental in negotiating international agreements on Climate Change and Global Warming on behalf of the United Kingdom.

During Sir David’s earlier years, he served with the Royal Marines in Singapore, Malaysia, Malta, and Norway, later being awarded the Royal Marines Reserve Decoration, and being appointed as an Honorary Colonel.

In 1994, Sir David was appointed by the Council of the London Stock Exchange to sit on the committee that went on to formulate and launch the Alternative Investment Market (AIM). In November 2006, Sir David won a National Award for “Outstanding Leadership” sponsored by the Daily Telegraph, and was nominated as one of 100 of Britain’s most influential men and women in the Public and Private Sectors. Sir David was knighted by the Queen in July 1992 when he was 46 years of age.

“We are honoured to welcome Sir David to our Board. We believe his decades-long leadership -- both in terms of guiding companies and his participation within the British Government -- will enable Sir David to make a valuable contribution in guiding MICT through its recently announced merger with Tingo, as well as into continued success for the combined businesses,” commented MICT’s CEO Darren Mercer.

“MICT’s financial technology platforms have the potential to reach a huge target market and significantly underserved populations, allowing for worldwide opportunities. I look forward to working with the management team to identify and maximize opportunities for the successful execution of MICT’s exciting and ambitious business plan,” added Sir David.

About MICT, Inc.

MICT, Inc. (NasdaqCM: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd ("GFHI"), its various fully owned subsidiaries or VIE structures. GFHI's versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and sales of insurance products in several high-growth foreign markets including Asia where GFH owns a substantial propriety database of users.

Cautionary Note Regarding Forward-Looking Statements

This press release contains express or implied “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. All statements other than statements of historical fact contained in this press release are forward-looking statements. The words “potential,” “believe,” “may” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. The Company has based these forward-looking statements on management’s current expectations and projections about future events and financial trends that management believes may affect the Company financial condition, results of operations, business strategy, business prospects, growth strategy and liquidity. Such forward-looking statements and their implications involve significant known and unknown risks, uncertainties and other factors that may cause actual results or performance (including, without limitation, the Company’s results of operations for the fourth quarter and year ended December 31, 2021, as well as potential future acquisitions by the Company, each as described herein) to differ materially or even substantially from those contemplated by the forward-looking statements. In particular, the Company can offer no assurances that the COVID-19 lockdowns currently in place will be lifted in sufficient time to allow the Company to report its year end 2021 audited results on a timely basis. All forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact information:

ir@mict-inc.com

FAQ

Who is Sir David Trippier and what is his role at MICT?

Sir David Trippier has been appointed as a non-executive member of MICT's Board of Directors, bringing extensive leadership experience from previous roles in public and private companies.

What impact will Sir David Trippier's appointment have on MICT?

His leadership and experience are expected to provide valuable guidance during MICT's merger with Tingo and enhance the execution of its business plan.

What are MICT's primary business areas?

MICT focuses on financial technology, particularly online brokerage for equities trading and insurance product sales in high-growth foreign markets.

What previous roles has Sir David Trippier held?

Sir David has served as Chairman or Director for multiple companies and held ministerial positions in the UK Government.