23 Jun 2011 07:00
23 June 2011
Hydrodec Group plc
("Hydrodec" or the "Company")
Appointment of Andrew Black to the Board as non-executive director
Hydrodec, the cleantech industrial oil re-refining group (AIM:HYR), is pleased to announce that Andrew Black has been appointed to the Board as a non-executive director with immediate effect. Mr Black owns a six per cent. equity stake in the Company and also invested in the recently announced debt instrument.
Mr Black was the co-founder and a former director of Betfair Group plc, one of the world's largest international online sports betting providers, which listed on the London Stock Exchange, and entered the FTSE250, in October 2010.
Neil Gaskell, Chairman of Hydrodec, commented: "I am delighted to welcome Andrew to Hydrodec's Board. This is Andrew's first public company directorship since leaving Betfair and his experience in fast growing, innovative technologies and his strong personal commitment to our success will be invaluable as we seek to realise Hydrodec's full potential."
For further information please contact:
Hydrodec Group plc | 020 7786 9810 |
Neil Gaskell, Chairman | |
Mark McNamara, CEO | |
Mike Preen, Head of Corporate and Legal Affairs | |
Numis Securities Limited | 020 7260 1000 |
Nominated Adviser: Hugh Jonathan Corporate Broker: David Poutney, Alex Ham | |
Corfin Public Relations | 020 7596 2860 |
Neil Thapar, Alexis Gore |
The following information on Andrew Black is provided pursuant to AIM Rule 17:
Full name and age: Andrew Wilson Black (48)
Current directorships:
Foreteller Limited
Golfbidder Limited
Swindon Football Holdings Limited
Swindon Town Football Company Limited
Manor House Stables Limited
Blackblottle Limited
Portway Press Limited
Timeform Betfair Racing Club Limited
Previous directorships (past 5 years):
Betfair Group PLC
The Sporting Exchange Limited
The Sporting Exchange (Clients) Limited
Interest in shares: Mr Black has an interest in 20,934,525 ordinary shares in Hydrodec. He also holds warrants to subscribe for 7,000,000 ordinary shares.
Notes to Editors:
The Group's technology is a proven highly efficient oil re-refining and chemical process which is being initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. The Group takes spent oil, including polychlorinated biphenyl ("PCB") contaminated oil, as the primary feedstock, which is then processed at its two plants enabling 99 per cent or greater recovery of oil for reuse while also eliminating PCBs, a toxic additive banned under international regulations, without environmentally harmful emissions.