Ceramic Fuel Cells Regulatory News (CFU)

 Directorate Changes

Ceramic Fuel Cells Limited ("CFCL") (AIM / ASX: CFU), a leading developer of generators which use fuel cell technology to convert natural gas into electricity and heat for homes and other buildings, announces that Tony Sherburn, Chief Financial Officer, has resigned from his position with the Company for personal reasons. Tony Sherburn does not sit on the board of Ceramic Fuel Cells Ltd. 

Joining the Company in the position of Chief Financial Officer effective 17th July is Mr. Clifford Ashby. Mr Ashby brings to Ceramic Fuel Cells Ltd extensive senior management experience in both finance and general management. He was previously the Chief Financial Officer of Emerald Group Australia Pty Ltd, a large grain storage, handling and marketing company and prior to that was Managing Director of Clean Seas Tuna Ltd, an ASX listed aquaculture business. Mr. Ashby will not sit on the board of Ceramic Fuel Cells Ltd.

Furthermore following on from the announcement issued on 30 April 2013 the Company is pleased to announce it has now received AUD 5.1m (GBP 3.1m) in cash from the Australian Government in relation to a tax refund relating to the Company's FY12 Research & Development expenditure.

Bob Kennett, Chief Executive Officer of the Company, stated:

 "On behalf of the Board of Directors, I would like to thank Tony for the tremendous contribution he has made to the Company since joining us in 2002. Although we are all very sad to see him leave I understand the circumstances behind his decision. He has developed the finance function of our business greatly and has successfully secured the tax refund announced today."

"I welcome Clifford Ashby to the Company. We are extremely pleased to be adding such a skill set to the Company's team. Clifford brings an excellent mix of experience with him and we look forward to benefitting from his presence in the very near future."

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