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Andalas Energy and Power plc (AIM:ADL) is pleased to announce that at the Company's extraordinary general meeting held earlier today, all resolutions proposed were duly passed.

Accordingly, trading under the new name of Advance Energy Plc (with TIDM 'ADV') is expected to be effective from 27 February 2020. In conjunction with the name change, the Company's new website address will shortly be changed to www.advanceplc.com and a further announcement will then be made.

Correct but I read it differently and that’s why I’m buying in already now ie EGM today approved with name change and green light to issue new shares without pre-emption right. Finish these technicalities this week and start from next with talks with institutional like clients to explain new strategy and raise at premium on the back of new ‘company making’ assets coming in and non core existing assets being exited. Either way March will see and end to ADL and ADV being created with new strategy, management, investors and assets which should be very interesting. Not many times you have the possibility to come in at or around the price of new management around aim, I have taken advantage of it and I’m sitting back now watching

Consent received, expect this to re-rate now.

Ismailia exactly my conclusion. The new board members are very smart double, they wanted a platform and I have no doubt that they already know that any asset non core to their strategy will go.

Completely disagree double. The crucial message is that this is a new board and company which will change course from the past and evaluate current and ‘additional’ growth option with decisions in ‘two weeks’ not 6 months.

New strategy RNS, superb and definitely needed:
Andalas Energy and Power plc (AIM:ADL) is pleased to announce that, following the recent changes to the Board as announced on 4 February 2020, the Board and Management are to conduct a review of the business with a view to formulating a revised strategy.

This review will address the current assets in the UK and Indonesia as well as additional growth options in order to maximise the value of the existing platform.

The Board expects to complete its review within the next two weeks with further communications to follow soon thereafter.

It was earlier announced that the Company proposes a name change to Advance Energy plc subject to shareholder approval at a General Meeting scheduled for 26 February.

I agree that you can deem it a punt as nothing is certain, but I don’t think for a minute that people with a CV as Mark and Leslie would waste their time to pocket a yearly salary in a shell. I see it as rather the opposite ie they already look at some assets and needed a company ready to go whey they could get for a small outlay a significant stake, rather than waiting 6 months to get a new one listed and ready to go. My guess is in the next couple of weeks to see Name change, new strategy, possibly broker addition/change, raise and new asset. Enough from me, time to wait.

I mean ... Will have to pay significantly more. This market rarely gives you a gift and this is now definitely one.

Ismailia, couldn’t agree more and that why I have built up a significant stake here. Been investing for 20 plus years and a handful of stocks have provided me with incredible medium term profits and I’m convinced that the opportunity available here is the best I ever had, as currently there are few followers and most still think at the old ADL team which has been removed. Just look at the market cap now and consider that we now have a board which can drive this over time to be a mid cap 500mio mcap share, just do the maths. I can’t wait to hear their plans which will be clear over the next few weeks and see the first transactions. My take is always build a stake when all is quiet because once interest builds you will have to much significantly more.

I can see where you are coming from as this does happen when the board has no CV, connections etc: Time will tell but I expect the opposite here ie yes EGM to raise 1.5bio shares but the price at which they raise will all depend of the asset which they show to institutional investors when they place. I think that as soon as EGM is done they will make their plans clear to investors and if the assets are truly company making they will raise well above of where we are, remember the key difference here is the three new members with their options almost control 30% of the shares and are very much aligned with other shareholders to see the price going upwards.

Just seen what has happened at Ascent ie placing at half of market price, options granted etc. If you think that our new board has come in at the same price of the previous placings and actually a premium to the were the stock was trading, albeit very low but not their mistake, and the amount of own money put in by them to become proper aligned shareholders, give me our new board members any day.

Seen that www.andalasenergy.co.uk now shows Mark Rollins and Leslie Peterkin on the board whereby Simon Gorringe and Robert Arnott have been removed. Just the start as I expect things really to get going once the EGM has taken place on 26.2 and the Advance Energy PlC vision and strategy becomes public.

I don’t have any doubts that the new team will show their intentions over the next few weeks, let’s wait and see as they only got appointed a week ago. Plus remember that skin in the game by key board members is a ‘detail’ which was missed by the previous board.

Double I have no idea, maybe the nomad would have not agreed to an immediate full board change or maybe the new chairman and CEO will keep them in situ or ad interim as helpful with their legal and finance corporate know how. Imo don’t get hung up on these details but grasp the magnitude of the changes announced on 4 feb before this gets publicised. The last RNS is clear ie they will raise at some point but for me guys with this CV will bring in deals of a size never thinkable by ADL and if that is the case the raises will be at a much higher price as they would generate a massive mcap re-rate. Maybe I’m wrong but I’m buying each day as the key elements are now in place. Time will tell.

Double I’m certain that Graham and Ross are under close scrutiny by the new CEO and Chairman and remember the following from the 4th Feb RNS to make clear imo who is now in charge in this new
Company: The Company and each of Simon Gorringe and Ross Warner have agreed to cancel the option agreements referred to in the announcement of 2 October 2018, amounting to 22,000,000 options over Ordinary Shares and to release claims for unpaid salaries totalling US$446,000.

A new board with incredible intellect having read at Oxford, Cambridge, imperial and St Andrews and professional careers would not invest half a million of their own cash if the didn’t have a clear plan evaluation plans already now....

I’m guessing that you have been investing as I did for many years. Imo this is now one of the best risk reward stocks around at this mcap and I’m almost daily adding to my position as I think this is due to the previous management’s debacle which causes this share to be outside the radar of most investors. This will not last, a management of this caliber will want this to become a mid cap bringing large deals, mark my words they have only come in a week ago and we will soon hear what their intentions are and at that stage you will dream to buy at these low levels.

Volvic do agree that the previous management needed changing and Needs to be ashamed for the past share performance. The name change is part of a completely new company, management with skills, connections and strategy, not to mention the fact that they put £200,000 each into the company which would have been unthinkable in Simon’s days.

Incredible potential here and therefore added more. The new board has experience, drive, connections and probably is at an advance stage on various transactions. In addition Mark and Leslie with shares and options will have an 11% each day in the company which will be a massive incentive to make this very rewarding for all shareholders. This is a real stroke of luck for ADL and the fact that the masses have not worked this one out given imo us an amazing opportunity. Time will tell but very pleased with their arrival.

Double, I had another read at the RNS. Time will tell, but, also bearing in mind their CV, I think that the new core incoming board members have transactions in mind well above the £500,000 put in by them as they say: 'The net proceeds of the Subscription will be used "to review" new opportunities in accordance with its stated strategy of broadening its asset base and for general working capital.'