REG - Eco Buildings Group - Board Change

Eco BuildingsAnnouncement

15/04/2024 07:00

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RNS Number : 5286K  Eco Buildings Group PLC  15 April 2024

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15 April 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Board Change  Non-Executive Director Etrur Albani Appointed Executive Vice
Chairman

 

Eco Buildings Group Limited (ECOB), the UK-quoted modular housing company, is
pleased to announce that Dr Etrur Albani, co-founder and non-executive board
member, has agreed to assume a full-time role as the Group's Executive Vice
Chairman.  In his new role, Dr Albani will be responsible for managing
existing client relationships as well as developing new contracts, working
with CEO Sanjay Bowry in setting and maintaining the Company's strategy on how
best to capture the rapidly growing demand for modular housing worldwide in
general, and for the Group's innovative product offering in particular.

Dr Albani has a PhD in High Speed Communication Devices and has been pivotal
in commissioning  the Group's manufacturing system for automated wall panel
production and delivery into the Group's standing 3-year, €114M order book
in the region.   In addition, Dr Albani's understanding of the Company's
manufacturing materials and processes have aided his efforts to introduce Eco
Buildings' housing solution to new markets.

Dr Etrur Albani, Incoming Executive Vice Chairman, Eco Buildings, "I have
always believed in the potential for the modular housing sector and Eco's role
within this sector.  Eco's is uniquely positioned with a process that creates
robust housing materials that are both low cost and of the highest ecological
specifications.  Therefore in consultation with the Board, I have agreed that
one way to help the Company more efficiently capture its rightful share of
this worldwide opportunity, is for me to formally dedicate myself to the
Company as Executive Vice Chair.

As the Company's largest shareholder, I want to assure our long-supporting as
well as potential investors, that my efforts will be keenly focused on
creating shareholder value and improving the performance of our shares.  Your
trust and investment in our company are paramount and I am committed to
working diligently towards our collective success."

Don Nicolson, Chairman, Eco Buildings said, "On behalf of myself and the
entire Eco Buildings' board, I want to thank Etrur for agreeing to assume a
senior, executive role at the Company.  He has been critical to the team's
efforts to date commissioning our production facilities while simultaneously
developing new relationships in new markets.  Having him now as Executive
Vice Chair, where he can be directly assist Sanjay in setting strategy and
developing new markets for our products, will be good for all stakeholders"

 

Further information is available on Eco Buildings website:
www.eco-buildings.net (http://www.eco-buildings.net)

 

For more information contact:

 Eco Buildings Group plc                               Tel: +44 (0) 207 380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director

 Spark Advisory Partners Limited (Nominated Adviser)   Tel:  +44 (0) 203 368 3550

 Matt Davis / James Keeshan

 Tavira Securities Limited (Broker)                    Tel:  +44 (0) 203 192 1739

 Oliver Stansfield / Jonathan Evans

 

 

Notes

The Company has acquired proven and innovative prefabricated technology which
has been in development and commercial use since 2006. Eco Buildings' range of
prefabricated, green housing products based on glass fibre reinforced gypsum
panels ("GFRG") provides a construction solution for both affordable and
high-end housing.

Eco Buildings has already secured two sales contracts with major construction
companies, one in Albania, the other in Kosovo, which are expected to generate
gross sales revenue of approximately up to €38 million in total per annum
over the first three years (approximately €114 million in total) following
Admission.

The market share for factory-based building technology is expected to grow
significantly over the coming years as private developers and the public
sector seek to address the substantial and growing deficit in housing stock
and issues of construction cost, speed and quality and housing affordability.

 

 

 

 

 

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