Strategic priorities
AC8 plc provides the growth capital to accelerate business opportunities while maintaining strong governance, performance management, financial discipline and risk oversight. It’s strategic priorities are:
- supporting the expansion of Hui10;
- investing in technology enabled business opportunities;
Our business
A leading digital lottery technology
AC8 plc’s principal operating business is Hui10 Inc., a Beijing-headquartered technology group that has spent more than a decade developing digital infrastructure creating a new digital engagement and transaction layer within China’s regulated lottery ecosystem, including AI-enabled tools and Big Data capabilities. Its technology enables transactional activity that connects with consumers and merchants, supporting improved oversight, engagement, transaction traceability and operational insight.
Expanding access and engagement
With deep integration into national payment infrastructure, UnionPay certified point-of-sale technology, together with established commercial relationships with regulated financial technology service providers and institutions. Hui10 has developed a differentiated and strategically important position from which to continue the digital evolution of its platform and services.
A differentiated market position
Hui10 aims to increase lottery participation through expanding consumer access throughout China, enhancing the customer experience through building new digital enabled products and services, and enabling its Lucky World retail brand across the existing lottery shop network.
Harnessing data and AI
By analysing transaction activity, consumer behaviour and retailer engagement data, Hui10 is developing AI-enabled services designed to improve operational efficiency, personalise user experiences and provide intelligent tools for retailers, partners and consumers.
Hui10 combines four core capabilities:
Retail connectivity
Hui10 connects independent retail locations through its technology and point-of-sale infrastructure, creating a distributed network through which digital and physical products and services can be delivered.
Consumer engagement
The Hui10 platform is designed to encourage repeat consumer interaction through digital services, promotions, rewards and other engagement tools.
Data intelligence
Hui10’s platform generates valuable transaction, consumer and retailer insights. Through Big Data analytics and AI-enabled technologies, Hui10 is developing intelligent services designed to improve decision-making, enhance user experiences and support more efficient operations.
Commercial partnerships
Hui10 works with established payment, retail, consumer-brand and institutional partners to develop services that can be distributed through its connected network.
Our Board
AC8’s Board brings together significant experience in listed companies, finance, governance, technology and growth. The Board comprises an independent Non-Executive Chair, Executive Directors and experienced Non-Executive Directors, providing an appropriate balance of leadership, sector knowledge, independence and constructive challenge.
The Board provides strategic leadership and oversight to AC8, supporting Hui10’s executive management team as it develops and scales the business. Its focus is on disciplined growth, effective governance, sound capital allocation and the creation of sustainable long-term value for shareholders.
Sir Nigel Rudd
Non-Executive Chair
Sir Nigel is one of the UK’s most experienced company chairmen, having led numerous FTSE-listed businesses including Alliance Boots, Meggitt, Pilkington and Invensys. He brings extensive strategic, governance and capital markets expertise to AC8.
Daniel Levine
Chief Executive Officer
Daniel has lived and worked in China for more than 30 years and is the co-founder of Hui10. He leads AC8’s strategic direction, commercial development and investor engagement, overseeing the continued growth of the Group’s digital commerce platform across China.
Giles Willits
Chief Financial Officer
Giles is a Chartered Accountant with over 25 years’ experience in listed companies and international finance. He is responsible for the Group’s finance function, governance, financial reporting, capital markets activities and investor communications.
Richard Kilsby
Independent Non-Executive Director
Richard has extensive experience across financial markets, regulation and listed company governance. His career includes senior roles at the London Stock Exchange together with chairmanships and non-executive positions across several public companies.
Malcolm Le May
Independent Non-Executive Director
Malcolm has more than 40 years’ experience in international banking and financial services. He has served as Chief Executive of Provident Financial and held numerous board and committee roles across listed companies, bringing deep expertise in audit, risk and governance.
Corporate governance
AC8 is committed to maintaining high standards of corporate governance, accountability and transparency. The Board provides leadership to the business and is collectively responsible for delivering sustainable, profitable growth of the business globally and driving long-term value for the shareholders of AC8 plc.
The Board sets the Company’s strategy and holds management to account for its delivery, always with a view to securing the success of the business over the longer term. It is also responsible for ensuring that strategy aligns with and promotes the organisation’s culture. Execution of the Group’s strategy and day-to-day management of the Company’s activities are delegated to the Executive Directors with the support of the wider leadership team.
Whilst ultimately accountable to shareholders, the Board has a responsibility to represent the interests of the Group’s stakeholders when setting strategic objectives, implementing core policies and developing our organisational culture and capabilities. Additionally, through the Audit and Risk Committee, the Board oversees the Group’s systems of internal control and risk management.
Board Committees
To maximise its effectiveness and ensure sufficient time and attention can be devoted to the key matters requiring its attention, the Board has delegated authority in certain areas to its principal Board Committees.
More information about our Board Committees and their full terms of reference can be found below
Audit and Risk Committee
The Audit and Risk Committee’s role is to assist the Board with the discharge of its responsibilities in relation to financial reporting, including reviewing the Group’s annual and half year financial statements and accounting policies, internal and external audits and controls, reviewing and monitoring the scope of the annual audit and the extent of the non-audit work undertaken by external auditors, advising on the appointment of external auditors and reviewing the effectiveness of the internal audit, internal controls, whistleblowing and fraud systems in place within the Group. The Audit and Risk Committee will meet as often as it deems necessary but at least three times a year. The Audit and Risk Committee will be comprised of independent non-executive directors.
The Audit and Risk Committee is chaired by Malcolm Le May and its other members are Richard Kilsby and Sir Nigel Rudd. The Governance Code recommends that all members of the Audit and Risk Committee be non-executive directors, independent in character and judgment and free from any relationship or circumstance which may, could or would be likely to, or appear to, affect their judgment and that one such member has recent and relevant financial experience. The Board considers all members of the Audit and Risk Committee are independent.
Remuneration Committee
The Remuneration Committee develops the Group’s policy on executive remuneration (including bonuses, incentive payments and pension arrangements), determines the levels of remuneration for the Chair, the Executive Directors, the relevant Leadership Team of the Group and prepares an annual remuneration report for approval by the shareholders at the annual general meeting. The Remuneration Committee will meet as often as it deems necessary but at least three times a year.
The Remuneration Committee is chaired by Richard Kilsby and its other members are Sir Nigel Rudd and Malcolm Le May. The Governance Code recommends that all members of the Remuneration Committee be non-executive directors, independent in character and judgment and free from any relationship or circumstance which may, could or would be likely to, or appear to, affect their judgment. The Board considers that the Group complies with the requirements of the Governance Code in this respect.
Nomination Committee
The Nomination Committee assists the Board in reviewing the structure, size and composition of the Board. It is also responsible for reviewing succession plans for the Company’s directors, including the Chair and the Chief Executive Officer and other senior executives. The Nomination Committee will meet as often as it deems necessary but at least two times a year.
The Nomination Committee is chaired by Sir Nigel Rudd and its other members are Richard Kilsby and Malcolm Le May. The Governance Code recommends that a majority of the Nomination Committee be non-executive directors, independent in character and judgment and free from any relationship or circumstance which may, could or would be likely to, or appear to, affect their judgment. The Board considers all members of the Nomination Committee are independent.
Reserved matters
In addition to its general responsibilities and duties, the Board has agreed that certain authorities relating to areas of strategic significance be reserved as matters for the Board alone, whilst other specific responsibilities have been delegated to the appropriate Committees. The full schedule of all matters reserved for the Board’s approval is available here:
Corporate governance statement
Our Corporate Governance Statement, setting out how we apply the Principles and comply with the Provisions of the UK Corporate Governance Code 2018, can be found here