/PRNewswire/ — The board of directors Xryma Plc (the “Company”) – a regulated banking technology group providing cross-border open banking, international transaction banking and real-time payment services for the EU and UK and under the brand ISX Financial® is active – announces that Christakis Taoushanis and Adonis Pegasiou have resigned from their positions as independent non-executive directors of the Company with effect from September 30, 2026
Christakis Taoushanis
Christakis (Takis) Taoushanis has been a member of the Company’s Board of Directors for almost 10 years and has chaired the Company since it first received regulatory approval as an electronic money institution from the Central Bank of Cyprus (CBC). Taoushanis has led the company through a spin-off process, seven years of continuous profits, preparation for admission to listing on Euronext Paris, as well as other key milestones such as the launch of the company’s direct T2 RTGS participation on the European Central Bank’s infrastructure and preparation for direct connectivity to the Bank of England.
According to the CBC’s corporate governance guidelines, a director who has served on the board of a CBC-regulated company for more than 10 years is not considered independent. These guidelines also provide that there must be more independent non-executive members than executive members on the board.
Christakis Taoushanis has informed the Board that his resignation is in accordance with CBC policy as he can no longer be considered an independent director and therefore cannot continue to serve as Chairman of the Board.
Nikogiannis Karantzis, Group Managing Director and Chief Executive Officer of Xryma Plc, explained: “On behalf of the company and in my personal capacity, I would like to thank Takis for his leadership in the company and his support as a mentor. Takis is an experienced banker who is highly respected in the industry and will be sorely missed by both the board members and employees. I thank him for his extensive contributions to the company and wish him all the best for the future.”
Adonis Pegasiou
Adonis Pegasiou has served on the Company’s Board of Directors for more than four years, having been appointed as an independent non-executive Board member for the first time on June 17, 2022.
Pegasiou’s full-time role is as Academic Director of the European Institute of Management and Finance (EIMF), a task that requires a larger proportion of his time and attention. At the same time, the Company’s business activities and projects are becoming increasingly complex, requiring greater commitment from board members, including additional time to familiarize themselves with key areas to ensure effective oversight and participation.
Adonis Pegasiou has informed the Board that he does not currently have sufficient time to devote to these matters. In these circumstances, he believes it is appropriate to resign from office as he does not want his other professional commitments to interfere with his ability to carry out his duties as a Board member while meeting the standards required by CBC.
Nikogiannis Karantzis, Group Managing Director and Chief Executive Officer of Xryma Plc, explained: “I would like to thank Adonis for his diligent and thoughtful service to the Board and its committees during his more than four years in office. His expertise in corporate governance, risk and compliance has been of great value to the company, and we respect his decision to prioritize his growing responsibilities at EIMF. On behalf of the Board, I thank him for his work and wish him every success in the future.”
Information about Xryma Plc
Xryma Plc, trading as ISX Financial®, is a regulated, vertically integrated banking technology group headquartered in Cyprus with operating centers in Cyprus, Lithuania and the United Kingdom. The company is authorized by the Central Bank of Cyprus for the EEA and by the UK Financial Conduct Authority as an electronic money institution and is among the first non-banks to participate directly in the Eurosystem’s T2 settlement system and settle in central bank money.
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