TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

20 October 2020

Appointment of Non-Executive Director

Tungsten Corporation plc (AIM: TUNG) a leading provider of digital financial management products and software solutions, today announces that it has appointed Andrew Coulsen to the board of directors of the Company as a non-executive director with immediate effect.

Andrew is CEO Europe for NTT Limited (part of Nippon Telegraph and Telephone Corporation), a position he has held since 2008.  Prior to that he was Chief Operating Officer for Dimension Data UK and Chief Financial Officer for Dimension Data Europe. Andrew is a qualified accountant.

Commenting on the appointment, Tony Bromovsky, Chairman of Tungsten said:

"I am delighted to welcome Andrew to the board. His appointment will greatly strengthen the expertise of the board in the area of information technology products and services, and we are very pleased to have an industry leader of his calibre joining the Tungsten team."

Further details in respect of Andrew Coulsen, as required pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies, are as set out below.

Enquiries

About Tungsten Corporation plc

Tungsten Corporation (AIM: TUNG) is the world's largest, compliant business transaction network. A leading global electronic invoicing and purchase order transactions network; Tungsten's mission is centred on enabling a touchless invoice process allowing businesses around the globe to gain maximum value from their invoice process.

Tungsten processes invoices for 74% of the FTSE 100 and 71% of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 50 countries, and last year processed transactions worth £195bn for organisations such as Caesars Entertainment, Computacenter, GlaxoSmithKline, Kraft Foods, Mohawk Industries, Mondelēz International, Procter & Gamble, Shaw Industries, Unilever and the US Federal Government.

Founded in 2000 and headquartered in London, Tungsten has offices in the US, Bulgaria and Malaysia, employing over 300 people.

For more information, please visit our website: https://www.tungsten-network.com/ 

Forward looking statements

This document contains forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Tungsten as of the date of this statement. All written or oral forward-looking statements attributable to Tungsten are qualified by this caution. Tungsten does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Tungsten's expectations

Additional Information

Andrew David Coulsen, age 56, is currently or has been a director of the following companies within the past five years:

As at the date of this announcement Andrew Coulsen is not beneficially interested in any ordinary shares in the Company.

There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.