20 Feb 2020 07:00
For immediate release
20 February 2020
Andalas Energy and Power Plc
('Andalas' or the 'Company')
Review of Strategy
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.
For further information, please contact:
Leslie Peterkin | Andalas Energy and Power Plcc/o FIM Capital Limited | Tel: +44 1624 681250 |
Graham Smith | FIM Capital Limited | Tel: +44 1624 681250 |
Roland Cornish/ James Biddle | Beaumont Cornish Limited(Nominated Adviser) | Tel: +44 20 7628 3396 |
Colin Rowbury | Novum Securities Limited(Joint Broker) | Tel: +44 207 399 9427 |
Christian Dennis | Optiva Securities Limited(Joint Broker) | Tel: +44 20 3411 1881 |