REG - Eco Buildings Group - Board Changes

Eco BuildingsAnnouncement

18/01/2024 11:15

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RNS Number : 1771A  Eco Buildings Group PLC  18 January 2024

18 January 2024

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

Eco Buildings Group plc

(the "Company" or the "Group")

Board Changes

Eco Buildings Group plc (the "Company" or the "Group") is pleased to announce
the following board changes that the Board believes marks a new chapter in its
journey towards sustainable growth and success.

Board Change - Retirement of Andrew Allner

 

Andrew Allner served as Chairman of Fox Marble Holdings PLC for over 12 years
and continued as Chairman of Eco Buildings Group PLC following the RTO. He now
feels, following the completion of the RTO, the relocation of the Company's
factory from Dubai to Durres, and the successful production of our first wall
that now is the time for him to retire. He has played a pivotal role in
leading the Board and Company through a transformative period and the Company
extends its gratitude for his invaluable contribution throughout his tenure.

Appointment of Don Nicolson as Chair with Handover Period

Eco Buildings is pleased to announce that Don Nicolson has been appointed to
take on the role of non-Executive Chairman. Don is a senior business leader
with 40 years experience in a range of sectors, both in the UK and
internationally. He has held multiple executive and non-executive roles in
both publicly listed and private companies. Don spent 26 years at BP, where
senior roles included Director North Sea and Chief of Staff to BP's E&P
CEO. Other notable roles include, Chairman and interim CEO for Spain's
Levantina Natural Stone Company, E&P Advisory Board member for SSE plc and
Independent non-Executive Director for Scirocco Energy plc. Don is currently
Non-Executive Chairman of Zenova Group plc.

To ensure a smooth transition, a handover period will take place until the end
of February,  during which Andrew and Don will collaborate closely to
transfer responsibilities and knowledge.

Dismissal of Dominic Redfern

The Company confirms the immediate dismissal of Dominic Redfern, Executive
Vice Chairman, for cause. This decision aligns with our commitment to
upholding the highest standards of conduct within our organisation.

Confidence in Future Growth

As we bid farewell to Andrew Allner, we express our heartfelt thanks for his
significant contributions to the Group over the last twelve years. Don
Nicolson, with his wealth of operational experience, steps in to steer Eco
Buildings, as we transition into full production at the new Durres factory. We
remain confident in our trajectory in the modular housing sector, and a
positive future for Eco Buildings Group PLC.

 

Outgoing Chairman Andrew Allner, "I have very much enjoyed my time at Fox
Marble and at Eco Buildings. We have faced a number of challenges over the
years and whilst business has not been easy Fox Marble is now showing signs of
stabilisation. I believe that the modular building sector will see significant
future growth and opportunity across the world and that Eco Buildings is well
positioned to take advantage of these trends and create value for
shareholders. I am very pleased that Don Nicolson, with his extensive business
experience, is taking over from me and I wish him and the Company the best of
luck."

 

Don Nicolson, incoming Non-Executive Chairman at Eco Buildings, "I have been
familiar with Eco Buildings since well before the RTO, I'm honoured to lead
the Company through its next developmental strides. Leveraging the substantial
order book, we aim to accelerate growth, which is a key strategic focus for
the Company. I extend my gratitude to Andrew for steering the Company to this
stage, allowing me to guide the Company on delivering orders in Albania and
expanding into new markets. "

 

Sanjay Bowry, CEO of Eco Buildings, states, "I express my sincere gratitude to
Andrew for his invaluable advice, instrumental in propelling Eco Buildings to
this critical pre-full-production stage. I warmly welcome Don to our Board,
anticipating a collaborative effort to tap into tremendous growth
opportunities for eco-friendly, modular housing on a global scale. Together,
with Don's wealth of strategic, commercial and operational experience, we are
poised for substantial success, making this news exciting for all our
stakeholders."

 

For more information on Eco Buildings, please visit

 www.eco-buildingsplc.com (http://www.eco-buildingsplc.com) or contact:

Eco Buildings Group plc

Sanjay Bowry, Chief Executive Officer

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Nominated Adviser: Spark Advisory Partners Limited

Matt Davis / James Keeshan

Tel: +44 (0)20 3368 3550

Broker: Tavira Financial Limited

Oliver Stansfield / Jonathan Evans

Tel: +44 (0)20 3192 1739

AIM Rules Schedule 2(g) disclosures

 

The following information is disclosed in accordance with Rule 17 and
paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with
the appointment of Donald Oag Nicolson, aged 63, to the Board of the Company.

 Current directorships  Past directorships (held within the last five years)
 Zenova Group Plc       Scirocco Energy Plc
                        Zenova Distribution Ltd
                        Zenova Ltd
                        Levantina Y Asociados De Minerales, S.A.U.

 

There are no further disclosures required in accordance with Rule 17 or
Schedule 2(g) of the AIM Rules.

 

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