LONDON (Alliance News) - Active Energy Group PLC said Thursday it is searching for new directors after Richard Spinks left the company's board to focus on his other business interests.
Spinks was the renewable energy company's managing director but he has stepped down from his role to focus on other business interest, including Active Energy's subsidiary Timberlands International Ltd.
Timberlands International invests, manages and develops forestry assets and lumber projects.
Active Energy said it was aware its board now only comprises two directors and is currently evaluating potential new members.
Chief Executive Officer Michael Rowan said: "I would like to thank Richard for his significant contributions to the team during his tenure as a director of Active Energy and I look forward to continuing to benefit from his expertise in his new focussed position at Timberlands."
Earlier in October, the company amended its application for the Crown Timber licence and forestry management agreement with the Canadian government after meetings were held with several ministries.
In September, the renewable energy company said the application to the government of the Province of Newfoundland and Labrador in Canada was still under the final stages of review by relevant departments.
After meeting with the ministries, Active Energy decided to amend its application to focus exclusively on the forestry opportunities and the development of one or more dedicated CoalSwitch plants.
The company said that the Province, the Ministry of Fisheries and Land Resources and the Ministry of Tourism, Culture, Industry and Innovation continue to support the advancement of the application to final approval.
Shares in Active Energy were down 5.9% Thursday at 1.60 pence each.
Active Energy (AEG)