REG - AFC Energy Plc - Directorate Change

AFC EnergyAnnouncement

15/04/2021 07:00

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RNS Number : 5081V  AFC Energy Plc  15 April 2021

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

15 April 2021

 

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of new Chair

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce the appointment of Gary Bullard as its
non-Executive Chair with immediate effect.  He succeeds John Rennocks who
retired from the Board after the company's Annual General Meeting (AGM) on 14
April after four years as Chair.

Mr Bullard is an experienced Chairman, non-executive director and executive
with a successful international career in the Industrial and Information
Technology industries.  His Board level experience includes working with
companies in the scale up of high-volume manufacturing and supporting high
value, high growth businesses in the commercialisation of technology across a
range of sectors.

He has particular expertise in understanding the opportunities for companies
to expand their market reach through geographic expansion; expanding their
value chain; digital transformation and innovation; increasing services or
annuity revenues; partnering and expanding their routes to market.  He will
draw upon his considerable experience on the Boards of UK companies who have
specialist offerings with a global marketplace and growth aspirations.

Mr Bullard brings strong business and governance experience to the role.
Gary has held several senior management positions in major corporates such as
IBM and BT. Until 2012 he was President at Logica UK and a member of the
Executive Committee of Logica plc. He has a wealth of AIM & Main Market
experience and is currently Chairman of Gooch & Housego plc as well as
being a Non-Executive Director of Spirent Communications plc.

Commenting on his appointment, Gary Bullard, Non-Executive Chair at AFC
Energy, said:

"I am hugely excited to have the opportunity to chair a growing business that
will play a pivotal role in decarbonising industry to reduce the effect of
climate change.

I believe that my commercial experience will be of significant benefit to AFC
Energy as it scales up its operations to meet growing demand and I look
forward to working with Adam and the senior Executive team to make this
happen."

Adam Bond, Chief Executive Officer at AFC Energy, added:

 

"Following a thorough selection process, we are delighted to have found a
chairman in Gary with such extensive experience and enthusiasm for the
business.

 

Our key priority is to put in place the required distribution channels,
manufacturing and staffing to drive our commercial sales with significant
annuity revenue and Gary's commercial acumen will be invaluable during this
phase of the company's development."

 

Pursuant to Schedule 2 (g) of the AIM Rules for Companies the following is
disclosed in relation to Gary Bullard.

 

Gary Bruce Bullard, aged 64, is currently a director of Gooch & Housego
plc, Spirent Communications plc, Recycling Technologies Ltd and New Model
Identity Ltd.

 

In the previous five years, he held Directorships in Rotork plc and Catquin
Ltd.

 

Gary does not currently hold any shares in, or options over shares in, the
capital of the Company.

 

Save as set out above, there is no further information required to be
disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

 

-ENDS-

 

 

For further information, please contact:

 AFC ENERGY AND ADVISORS

AFC Energy plc

 Adam Bond (Chief Executive Officer)                                +44 (0) 14 8327 6726

 Iain Thomson (Head of Communications and Stakeholder Management)   investors@afcenergy.com (mailto:investors@afcenergy.com)
 WH Ireland - Nominated Adviser and Joint Broker                    +44 (0) 117 945 3470

 Mike Coe (Corporate Finance)

 Jasper Berry (Corporate Broking)
 MCPeat & Co LLP - Joint Broker                                   +44 (0) 20 7104 2334

 Charlie Peat
 Zeus Capital Limited - Joint Broker                                +44 (0) 203 829 5000

 Daniel Harris (Corporate Finance)

 John Goold/Dominic King (Corporate Broking)
 FTI Consulting - PR Advisors                                       +44 (0) 203 727 1000

 Sara Powell / Ben Brewerton                                        afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 

 

 

 

About AFC Energy plc

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to
provide clean electricity for on and off grid applications. The technology,
pioneered over the past twelve years in the UK, is now deployable in electric
vehicle chargers, off-grid decentralised power systems and industrial gas
plants as part of a portfolio approach to the decarbonisation of local
electricity needs. (afcenergy.com)

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