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Directorate Change

1 Apr 2022 07:00

RNS Number : 8534G
Advance Energy PLC
01 April 2022
 

1 April 2022

Advance Energy plc

("Advance Energy" or the "Company") 

Directorate Change

Advance Energy (AIM:ADV), the energy company seeking growth through acquisition or farm-in to discovered upstream projects, announces that its CFO, Stephen West, has resigned from the Company as a Director with immediate effect.

Following Mr West's resignation, the Board will be comprised of four directors and the composition of the various Board committees will not be affected by his departure.

The Company retains FIM Capital Limited ("FIM") to provide accounting and company secretarial services to the Group. FIM is responsible to the Company for general accounting and bookkeeping, preparation of monthly group summary financial information, and preparation of consolidated full year accounts for review by the Company's auditors.

The Company remains focused on capitalising on the current deal pipeline built over the last year from the Board's extensive industry relationships.

 

Commenting on the update, Chairman Mark Rollins said:

"Advance is at an important juncture as it progresses new business ventures, and our focus is to convert a deal in the coming months. It is within this context that we have the right-sized organisation to maintain strict capital discipline while ensuring that we have the right balance of skills to develop the current deal pipeline.

"We thank Steve for his contribution and we will assess the requirement of a full-time CFO as our business development activities progress."

 

Enquiries:

Advance Energy plc

Larry Bottomley (Interim CEO)

+44 (0)1624 681 250

 

Strand Hanson Limited (Financial and Nominated Adviser)

Rory Murphy / James Harris / James Bellman

+44 (0)20 7409 3494

 

 

Buchanan (Public Relations)

Ben Romney / Jon Krinks 

+44 (0)20 7466 5000

 

Tennyson Securities Limited (Joint Broker)

Peter Krens / Ed Haig-Thomas

+44 (0)20 7186 9030

 

 

Optiva Securities Limited (Joint Broker)

Christian Dennis

+44 (0)20 3411 1881

 

 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

For further information, please visit www.advanceplc.com and @advanceplc on Twitter

To register for Advance Energy's email alerts, please complete the following form: https://www.advanceplc.com/media-centre/news/#alerts

 

 

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