Sable Mining Africa Regulatory News (SBLM)

1 Dec 2008 14:30



BioEnergy Africa Ltd / Index: AIM / Epic: BAL / Sector: Oil & Gas Producers

1 December 2008

BioEnergy Africa Ltd ('BioEnergy Africa' or 'the Company')

Board Appointments

BioEnergy Africa Ltd, the AIM listed company formed to develop the production of ethanol from sugar cane projects in southern Africa, has appointed to its Board of Directors, with immediate effect, Nick Brooks as Chief Executive Officer, Jorge Neves as Executive Director and, with effect from 5th January 2009, Ashwin Rana as Chief Operations Officer. These appointments are in line with the Company's stated strategy of recruiting specialists in the areas of sugar cane and bio-ethanol production, energy infrastructure projects and international relations to further the advancement of its 30,000 hectare Massingir Fuel Ethanol Project in Mozambique and to identify additional sugar cane and ethanol projects in southern Africa.

BioEnergy Africa Chairman Phil Edmonds said, "Nick, Jorge and Ashwin will bring us vast knowledge and experience as well as industry and business connections, which will be invaluable as we look to advance our Massingir Fuel Ethanol Project in Mozambique which, with a production target of 1,200,000 litres a day, has the potential to be one of Africa's leading bio-ethanol projects."

"Having assembled such a strong team we look forward to benefiting from their insight, experience and expertise as we advance the Massingir Fuel Ethanol Project, identify additional projects in southern Africa and look to become a leading sugar cane based ethanol producer on the continent."

Nick Brooks has over 30 years of experience in the petroleum and bio-energy sectors. Most recently he was CEO of Bioverda Europe, responsible for its portfolio of bio-fuels and bio-energy businesses across Europe. During his time at Bioverda, Nick Brooks led a multinational team located throughout Europe controlling company strategy, directing operations in two biodiesel businesses and a landfill gas power business, and developing a pipeline of projects including crushing/esterification biodiesel projects and a number of bio-energy projects.

From 2006 to 2007 Nick Brooks served as CEO of Sun Biofuels Ltd, an African based company investing in energy crop plantations in Tanzania, Ethiopia and Mozambique. He oversaw the strategic and operational development of the company, focussing primarily on the acceleration of land acquisition and planting.

Prior to 2006, Nick Brooks was employed by Royal Dutch Shell for 28 years in a number of executive roles. His appointments included periods as Managing Director of Shell Polska and Commercial Business Development Manager of Shell European Oil Products. He later led the business incubator at Shell Internet Services before becoming CEO of Shell India eServices. In 2003 he became the Europe, Middle East and Africa director of Pennzoil-Quaker State Integration before taking a role as Managing Director of Shell Car Care International in 2003.

Mr. Jorge Neves is a partner of Barrocas Sarmento Neves, a leading Portuguese Law firm, and is a partner of the Monteiro Graça & Associados, a prominent law firm in Maputo, Mozambique, founded by Mr. Neves and others in 1996. As such, Mr. Neves has built a reputation as a leading lawyer during a career spanning over 22 years in practice. During his career he has developed extensive contacts within the bio-energy sector, particularly in Brazil. His practice has focused on project finance and finance, in particular in renewable energy and infrastructure projects in Europe, Africa and Brazil. Between 1987 and 1990 Mr. Neves undertook academic positions as Assistant Lecturer in EC Law and International Economic Law and Assistant Lecturer in Competition Law at Lusiada University. Mr Neves is a member of the Portuguese Bar Association and the International Bar Association. He is a founding member of the Portuguese Securities Institute and is an ex-Vice-President, and current President of the Arbitration Council, of the Portuguese-South African Chamber of Commerce and Industry.

Mr. Rana has 24 years experience in the sugar industry working with producers in Tanzania and Zimbabwe. His most recent appointment was with Kagera Sugar Limited, one of the largest sugar estates in Tanzania, where he served as General Manager from October 2005, overseeing and establishing a completely new management structure following privatisation and rehabilitation of the former state-owned enterprise. Prior to this Mr. Rana was General Manager at Mtibwa Sugar Estates Limited another newly privatised concern in Tanzania from April 2005 to May 2006, serving both Kagera and Mtibwa simultaneously during the period from October 2005 to May 2006, whilst training up suitable management to take over from him at Mtibwa.

Prior to 2005, Mr. Rana was employed by the Tongaat Hulett Sugar Group of South Africa for 20 years, holding various engineering, management and executive roles at their wholly owned subsidiary, Triangle Limited, in Zimbabwe. He successfully managed the expansion of the Triangle factory to 500 tons of cane per hour, resulting in it becoming one of the largest sugar producers in Southern Africa, and installed a new white sugar refinery at the plant, before moving on to a role as Mill Operations Director in October 2001. In this executive capacity he was responsible for all operations of the sugar mill, refinery and ethanol plant at Triangle Limited.

Mr. Rana holds a BSc (Hons) in Electrical Engineering from the University of Zimbabwe, and is a member of several professional bodies including the Institution of Engineering and Technology (UK), and the International Society of Sugar Cane Technologists. He plays an active role in directing the activities of the Tanzanian sugar industry as Chairman of the Tanzania Sugar Producers Association and as a Director of the Sugar Board of Tanzania.

Nicholas Martin Brooks (aged 51) currently holds or has held the following directorships and partnerships in the last five years.

Mr. Brooks will receive 5 million conditional options to acquire shares in the Company at a price per share equal to the average of the middle market price of the Company's shares for the five trading days prior to 1 December 2008. The options will vest over time, conditional upon the accomplishment of certain milestones, and all of the options will be exercisable for a period of 5 years from the date on which they vest.

Jorge Santiago Neves (aged 48) currently holds or has held the following directorships and partnerships in the last five years.

Mr. Neves' will receive 1 million options to acquire shares in the Company at a price per share of 12.5 pence, which will vest on the 1 December 2009. In addition, Mr. Neves will receive a further 9 million options with an exercise price of 12.5 pence per share conditional upon the accomplishment of certain milestones. All of the options granted to Mr. Neves will be exercisable for a period of 5 years from the date on which they vest.

Ashwin Dolatrai Rana (aged 48) currently holds or has held the following directorships and partnerships in the last five years.

Mr. Rana will receive 5 million options to acquire shares in the Company at a price per share of 10 pence. The options will be exercisable for a period of 5 years from the 5 January 2008.

There are no further disclosures to be made in relation to Nick Brooks, Jorge Neves and Ashwin Rana pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

In recognition of their efforts in bringing the Company to market, and for securing such a strong Board, following the appointment of Mr. Brooks, Mr. Neves and Mr. Rana, each of the existing directors of the Company, being Mr. Edmonds, Andrew Groves and Corne Holtzhausen will receive 2 million options to acquire shares in the Company at a price per share of 12.5 pence. These options will be exercisable for a period of 5 years from the date on which they are granted and are in addition to the 2 million options with an exercise price of 30 pence per share already granted to each of the existing directors.

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For further information please visit www.bioenergy-ltd.com or contact: