Green & Smart Appoints New Finance Head, To Cut Board Remuneration

LONDON (Alliance News) - Green & Smart Holdings PLC said Tuesday that it has appointed Syed Nazim bin Syed Faisal as finance director and executive director with immediate effect.

The renewable energy company generating power from biogas in Malaysia said Nazim is being appointed pursuant to the company's subscription agreement with Serba Dinamik International Ltd, as announced in July.

Nazim currently is group chief financial officer of Serba Dinamik Holdings Berhad, a Malaysia-based investment holding company.

Green & Smart also said that it has resolved to reduce the annual fee payable to directors by 60% commencing from the current financial year and to reduce the size of the board as part of cost cutting measures.

Sivadas Kumar, executive director and CFO, and Non-Executive Director Sivamohan Namasivayam have volunteered to not stand for re-election at the company's annual general meeting due in October.

Shares in Green & Smart were untraded at 7.50 pence each.