REG - Scirocco Energy PLC - Board Changes

Scirocco EnergyAnnouncement

27/04/2023 07:00

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RNS Number : 6141X  Scirocco Energy PLC  27 April 2023

27 April 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, is
pleased to announce the appointment of Matt Bower as a Non-Executive Director.

 

Mr. Bower, aged 57, joins Scirocco's board of directors as a nominated
representative of GP Jersey, the Company's largest shareholder with a holding
of 8.82%. Mr. Bower is presently a company director of Makabo Limited, a
consultancy providing strategic advisory and business planning to the
Leadership and Boards of high growth start-up technology and innovation
companies. Mr. Bower brings relevant expertise, having served as the Chief
Operating Officer and Chief Financial Officer at various listed and private
companies in the energy sector. Mr. Bower is also currently engaged as a
strategic advisor to the Board of Directors of a number of high growth green
technology companies, including to Fluechem Limited, a company at which Niall
Roberts, Scirocco's recently appointed NED, is CEO, and Frazer Lang, executive
director of GP Jersey, is a stakeholder.

 

The Company is aware of the recommendations of the QCA Code, being the
corporate governance code that the Company follows, and to that end, the
Company intends to identify and appoint a new independent non-executive
director by no later than the end of Q3 2023 to replace Don Nicolson, who is
expected to step down from the Board at or around the time of the AGM. The
Company will seek to add a second independent non-executive director in due
course.

 

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

 

"We welcome Mr Bower to the Board and look forward to benefitting from his
broad renewable energy experience.  Mr Bower is another candidate put forward
by our largest shareholder, GP Jersey, and his appointment reflects the
Company's commitment to ensure alignment between the Board and its
shareholders. As previously guided, the Board is evolving its composition to
ensure it retains the right level of sector expertise and experience to pursue
its stated growth strategy and will appoint, by the end of Q3 2023, an INED to
replace Don Nicolson in order to maintain a level of independence on the
Board."

 

 

AIM Rules for Companies, Schedule 2(g) Disclosures

 

The following additional information is provided in accordance with paragraph
(g) of Schedule Two of the AIM Rules for Companies.

 

Mr Edwin Matthew (Matt) Bower (aged 57)

 

 Current Directorships  Past Directorships (in the last five years)
 Makabo Limited

 

Mr. Bower does not directly hold any shares nor options over ordinary shares
in the Company. Mr. Bower's spouse, Kathleen Bower, holds 1,896,226 ordinary
shares in the Company, representing 0.21% of the issued share capital. He is
also the appointed representative of GP Jersey, which owns 8.82% of the
Company.

 

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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