REG - Scirocco Energy PLC - Board Changes

Scirocco EnergyAnnouncement

16/03/2023 07:00

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RNS Number : 1980T  Scirocco Energy PLC  16 March 2023

16 March 2023

Scirocco Energy plc

("Scirocco" or the "Company")

Board Changes

Scirocco (AIM: SCIR), the AIM investing company targeting attractive assets
within the European sustainable energy and circular economy markets, announces
that Don Nicolson has served notice of his intention to step down from the
Board on or around the date of the 2023 Annual General Meeting.

 

This update follows the RNS issued on 1 March in which the Company indicated
its intention to review the composition of the board as the Company makes
further progress on its own transition from an investor in natural resources
to renewable energy assets over the coming year. Don's core skill set and
experience relates to oil, gas and natural resources and his stepping down
allows the company to introduce alternative experience to the board which more
directly supports the renewable energy strategy.

 

Don has confirmed he will support the Company in his capacity as Chairman of
the Audit Committee through to the completion of the 2022 audit and annual
report.

 

The Company will now commence a process to recruit a suitable replacement
independent non-executive director with the requisite skills and experience
and an update will be provided in due course.

 

Commenting on the change, Alastair Ferguson, Chairman of Scirocco, said:

 

"Don has been a valuable asset to Scirocco as the Company has transitioned
from legacy natural resources assets to its strategic focus on transition
opportunities within the sustainable energy and circular economy markets.  We
are grateful for Don's contribution as an independent director and audit
committee chair, and appreciate his support on the orderly handover of those
duties.  We wish Don well with his future endeavours and look forward to
updating the market in due course once we identify an appropriate replacement
INED.

 

On a personal note I have greatly appreciate Don's advice and guidance on a
broad range of issue from an independent perspective since he joined the board
in 2019."

 

 

For further information:

 Scirocco Energy plc                               +44 (0) 20 7466 5000

 Tom Reynolds, CEO

 Doug Rycroft, COO

 Strand Hanson Limited, Nominated Adviser          +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / Robert Collins

 WH Ireland Limited, Broker                        +44 (0) 0207 220 1666

 Harry Ansell / Katy Mitchell
                                                   +44 (0) 20 7466 5000

 Buchanan, Financial PR

 Ben Romney / Jon Krinks

 

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