GSH.L Regulatory News (GSH)

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

25 September 2018

Green & Smart Holdings plc

("Green & Smart" or "the Company")

Directorate Change

Green & Smart Holdings plc (AIM: GSH), a renewable energy company generating power from biogas captured through the treatment of palm oil mill effluent ("POME") in Malaysia, announces the appointment of Mr. Syed Nazim bin Syed Faisal as Finance Director and an Executive Director of the Company with immediate effect. Mr. Nazim is being appointed pursuant to the Company's subscription agreement with Serba Dinamik International Ltd ("SDIL"), as announced on 19 July 2018, whereby SDIL is entitled to appoint one Executive Director to the Company's Board of Directors for as long as SDIL holds at least 15% of the Company's issued share capital.

Mr. Nazim, aged 37, has over 14 years' experience in the accounting and banking sectors. Currently, he is Group Chief Financial Officer of Serba Dinamik Holdings Berhad, a Malaysia-based investment holding company that manages the Serba Dinamik group of international energy services companies, including SDIL. Prior to joining Serba Dinamik, he held positions at Ibdar Bank, RHB Islamic Bank and KPMG.

The Board of Green & Smart is mindful of its expenses and has been evaluating measures to implement cost efficiencies. To this end, the Directors have resolved to reduce the annual fee payable to Directors by 60% commencing from the current financial year and to reduce the size of the Board.

Mr. Sivadas Kumar, Executive Director and Chief Financial Officer, and Dato' Dr. Sivamohan S Namasivayam, Non-executive Director, have volunteered to not stand for re-election at the Company's forthcoming Annual General Meeting ("AGM"), which is due to be held in October 2018. As a result, Mr. Kumar and Dato' Dr. Namasivayam will stand down from the Board at the conclusion of the AGM. Mr. Kumar will remain in his position as Chief Financial Officer of the Company, working alongside Mr. Nazim.

Datuk Haji Radzali Bin Hassan, Non-Executive Chairman, said: "On behalf of the Board, I would like to welcome Syed Nazim to Green & Smart. He brings a wealth of experience from leading financial institutions in Malaysia as well as the energy sector. We look forward to working with him and benefiting from his know-how as we focus on the growth of our company. I would also like to thank Sivadas and Sivamohan for their valuable contribution to the Board and our appreciation for their willingness to stand down at this juncture to facilitate our cost reduction efforts."

Regulatory disclosures:

Syed Nazim Bin Syed Faisal is a director or partner of the following companies or partnerships:

Save as disclosed above, there is no further information required to be disclosed in respect of Syed Nazim pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

Enquiries