REG - Scirocco Energy PLC - Board Changes

Scirocco EnergyAnnouncement

01/06/2023 07:00

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RNS Number : 2545B  Scirocco Energy PLC  01 June 2023

1 June 2023

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Board Changes

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive
assets within the European sustainable energy and circular economy
markets, confirms that, as announced on 1 March 2023, Muir Miller has stepped
down as a director of Scirocco Energy plc.

Mr Miller will be replaced by Niall Roberts on the board of Energy
Acquisitions Group Ltd ("EAG"). Scirocco owns 50% in the EAG Joint Venture
which wholly owns and operates Greenan Generation Limited ("GGL"), a 0.5MW
Anaerobic Digestor ("AD") plant in Northern Ireland.

 

During the bulk of his tenure as a director Mr Miller agreed to defer his
director fees to preserve cash in the company. In order to meet its
obligations to him - and consistent with other directors - the company has
entered into an Options Deed which awards options to Mr Miller to subscribe
for shares in order to settle the total salary deferred between March 2021 and
August 2022.

 

Alastair Ferguson, Chairman of Scirocco stated "I want to thank Muir on behalf
of our fellow Directors for his personal and professional contribution to
Scirocco during a challenging period which saw the company transition from a
natural resources investor to an investor in sustainable energy assets.

 

Muir's experience and knowledge, especially with regards to ESG and renewable
energy sectors, has assisted the company in both identifying and assessing a
range of potential investments.  We wish him well with his future
endeavours."

 

For further information:

 Scirocco Energy plc                            +44 (0) 20 7466 5000

 Tom Reynolds, CEO

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

 Ritchie Balmer / James Spinney / Rory Murphy

 WH Ireland Limited, Broker                     +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 Buchanan, Financial PR                         +44 (0) 20 7466 5000

 Ben Romney / Jon Krinks / George Pope

 

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