REG - European Green Trns. - Board Changes

European Green TransitionAnnouncement

14/04/2025 07:00

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RNS Number : 7959E  European Green Transition PLC  14 April 2025

14 April 2025

European Green Transition plc

("European Green Transition", "EGT" or "the Company")

 

Board Changes

 

European Green Transition (AIM: EGT), a company developing green economy
assets in Europe, is pleased to announce the appointment of Cathal Friel, the
Company's co-founder, as non-executive Chairman with immediate effect.

 

Cathal Friel is a seasoned serial entrepreneur with over 20 years' experience
in corporate finance and M&A. Cathal was previously Chair of hVIVO plc
(formerly Open Orphan plc), where in 2019 he successfully completed the
acquisition and integration of two loss-making businesses (Venn Life Sciences
plc and hVIVO plc), transforming them into a strong, profitable, and
cash-generative company with revenue increasing by 181% and Group EBITDA
growing from a loss of £6.7 million to a profit of £16.4 million. Prior to
hVIVO, Cathal co-founded Amryt Pharma plc which listed on the London Stock
Exchange in 2016 and dual listed on Nasdaq in 2020 and was later sold to
Chiesi Farmaceutici for $1.48bn in 2023. Cathal is also co-founder and
Chairman of Poolbeg Pharma plc, a publicly listed biopharmaceutical company
which was demerged from hVIVO plc in 2021 and is Managing Director of Raglan
Capital, which he founded in 2007.

 

Cathal co-founded EGT in 2021 listed it on AIM in April 2024 and he is its
largest shareholder.  He has been critical in shaping EGT's strategy, moving
away from exploration and mining to focus EGT on acquiring revenue generating
businesses. Cathal will bring his extensive experience in successfully growing
public companies through M&A, as EGT focuses on transitioning into a
profitable, cash-generative company.

 

Daniel Akselson will remain on the Board as a non-executive Director, head of
the Audit Committee and will continue to support EGT's strategy to monetise
its exploration projects, specifically the Olserum Rare Earth project in
Sweden.

 

Cathal Friel, Co-founder and Non-Executive Chairman, commented:

"EGT remains focused on expanding its portfolio of green economy assets
through M&A, targeting revenue generating businesses. There are a number
of distressed businesses operating in the green economy space with potential
for turnaround and transformation into strong, cash-generative and profitable
businesses.

"I am very excited to step up to the chairman role with EGT and I look forward
to working with the EGT team to capitalise on the many exciting opportunities
that are available to us. In particular I look forward to continuing to work
closely with Daniel Akselsen, who will remain a key member of the Board,
managing our Swedish assets and stakeholders as we look to monetise these
assets through sale or partnership to deliver value for our shareholders."

-ENDS-

 

 Enquiries

European Green Transition plc

 Aiden Lavelle, CEO  +44 (0) 208 058 6129
 Jack Kelly, CFO

Panmure Liberum - Nominated Adviser and Broker

 James Sinclair-Ford / Dougie McLeod  + 44 (0) 20 7886 2500

 Mark Murphy / Rauf Munir

 

Camarco - Financial PR

 Billy Clegg, Elfie Kent, Lily Pettifar, Poppy Hawkins  europeangreentransition@camarco.co.uk
                                                        (mailto:europeangreentransition@camarco.co.uk)

                                                        + 44 (0) 20 3757 4980

Notes to Editors

 

European Green Transition plc (quoted on the AIM market of the London Stock
Exchange under the ticker "EGT") is a business operating in the green
transition space in Europe. EGT intends to capitalise on the opportunities
created by Europe's transition to a green, renewables-focused economy and
plans to expand its existing portfolio of green economy assets through
M&A, targeting revenue generating businesses that support the green
transition.

 

For more information, please go to  www.europeangreentransition.com
(https://www.europeangreentransition.com/)  or follow us on X (formerly
Twitter ) (https://twitter.com/EuropeanGreenT) and LinkedIn
(https://www.linkedin.com/company/european-green-metals-ltd) .

 

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