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8 Jul 2014 07:00
Rame Energy / Index: AIM / Epic: RAME / ISIN: JE00BBD8GG53 / Sector: Energy
8 July 2014
Rame Energy plc ("Rame" or the "Company")
Directorate Change
Rame Energy plc, the international energy consultant, engineer and power generator, announces the resignation of Fernando Cubillos as a Non-Executive Director of the Company, with immediate effect, so that he may focus on his other business interests which are requiring increased attention.
The Company will continue to work closely with Fernando through his energy consultancy business, Antuko Comercialización SpA ("Antuko").
Tim Adams, CEO, commented, "On behalf of the rest of the Board I would like to thank Fernando for his contribution to the Company during this transitional period and wish him well on his future endeavours. However, we look forward to continuing our long and fruitful working relationship with him through Antuko. We are in advanced discussions with a candidate to replace Fernando as a Non-Executive Director and I hope to be able to provide a further update in the not too distant future."
**ENDS**
Enquiries
Rame Energy plc | Tel: +44 (0) 1752 565638 |
Tim Adams (Chief Executive) |
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Jan Gawel (Finance Director) |
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Northland Capital Partners Limited | Tel: +44 (0) 20 7382 1100 |
Nominated Adviser and Broker | |
Matthew Johnson / Louis Castro / Lauren Kettle (Corporate Finance) | |
John Howes / Mark Simpson (Corporate Broking) | |
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St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Elisabeth Cowell / Frank Buhagiar |
Notes
Rame is an established revenue generative global supplier of cost effective, technically optimised and reliable power generation solutions including wind, solar and diesel to blue chip clients such as Akzo Nobel, Anglo American, Barrick Gold and Codelco. The Company has executed its first joint venture agreement with Santander Investment Chile Limitada to co-finance its first two wind projects totalling 15 MW, in which Rame will have a 20% equity participation. The debt package for the two projects is being provided by Chilean bank, Banco BICE.
Rame aims to become a niche Independent Power Producer ("IPP") targeting an operational portfolio of 300MW in Latin America within three years. The Company plans to build on its proven track record of delivering power in South America where it has been involved in the development of approximately 23% of Chile's installed wind power capacity (as at 31 December 2013).
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