Last checked at 3 Dec 2012 07:00
3 December 2012
AIM: AEG
ACTIVE ENERGY GROUP PLC
("Active Energy" or "the Group" or "the Company")
Directorate Change
Active Energy, the AIM-listed provider of processed wood product for biomass fuel and other applications, announces the appointment of Giuseppe (Joseph) Valoroso as Non-Executive Director, with immediate effect.
Joseph Valoroso, a dual Italian and Canadian national, is currently resident in Canada and has significant experience in substantial commercial logging operations. Between 1972 and 1987 Mr. Valoroso established and developed a leading logging operation in Northern British Columbia, supplying timber to mills and wood processing companies throughout the region, producing up to 3,000m3 of timber per day. He later went on to gain expertise in the construction of the roads and bridges needed to access new logging territories.
In 1987 Mr. Valoroso moved to Italy, where he founded and operated a chain of supermarkets. Mr. Valoroso returned to Canada in 1993 and founded Valoroso Foods Limited, a leading importer and distributor of Italian and European products to the Canadian food and drink industries. Mr. Valoroso continues to act as President of Valoroso Foods Limited and is a director of a number of other Canadian private companies.
Mr. Valoroso has been acting as a consultant to the Company for the past six months helping to develop the Western Ukraine logging operations and will continue to provide guidance on this key development area of the Group.
The Board now comprises:
Colin Hill, Non-Executive Chairman
Richard Spinks, Chief Executive Officer
Joseph Valoroso, Non-Executive Director
Commenting on the appointment of Joseph Valoroso as Non-Executive Director, Active Energy Group CEO Richard Spinks said:
"We are delighted to welcome Joseph to the Board and we look forward to him bringing his vast experience to benefit our emergent operations in Ukraine, providing essential guidance to optimise the opportunities vested in our now rapidly-developing logging, processing and distribution operations. With his two decades of relevant operational experience his input undoubtedly represents a major strengthening of the team. My level of confidence in delivering the Active Energy business plan is further underpinned with Joseph joining the Board and my colleagues and I are looking forward to working closely with him and benefiting from his near-unparalleled experience in the sector."
Enquiries:
Active Energy Group Plc Richard Spinks, Chief Executive Officer |
Tel: +380 675 802 852 |
Merchant Securities Limited (Nominated Adviser and Broker) | |
Simon Clements | Tel: +44 20 7628 2200 |
The following information falls to be disclosed under rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
Joseph Valoroso, aged 66, is or has been a director or partner of the following companies or partnerships in the preceding five years:
Current directorships or partnerships | Past directorships or partnerships |
J.D. Enterprises Limited (Canada) | Euromec Import Export S.C.R.L (Italy) |
Valoroso Enterprises Limited (Canada) | |
Jacla Holdings Inc. (Canada) | |
Valoroso Logging Limited (Canada) |