21 Oct 2013 08:40
AUHUA CLEAN ENERGY PLC
("Auhua" or "the Company")
APPOINTMENT OF VICE CHAIRMAN AND NON-EXECUTIVE DIRECTOR
Auhua Clean Energy plc, the AIM quoted (AIM: ACE) environmental technology group is pleased to announce the appointment to its board of Mr. David James Sumner as Vice Chairman and non-executive director.
Mr. Sumner, aged 42, has over 15 years' international business experience and is currently Executive Chairman and Chief Executive Officer of Diamond Wood China Limited, having joined in September 2010. Prior to this, Mr. Sumner was Executive Chairman and Chief Executive Officer of UAE-based investment bank, Dunamis Capital, DIFC. He was previously Group CEO of Medicsight plc raising over $70 million as part of an IPO in June 2007. He joined Medicsight in 2002 as Global Marketing Director, setting up their operations in Japan, China, Korea and Australia, the US and Europe.
Mr. Raphael Tham, Chairman of Auhua, said:
"I am delighted to welcome David to the Board. His wealth of experience in China and South East Asia and his experience in fundraising and entrepreneurialism will be invaluable to Auhua. I look forward to his leadership and guidance as we transition into the next phase of the Company's development and as he contributes as a key member of Auhua's team."
Mr. Sumner commented:
"I am delighted to accept this appointment and to work with the board of Auhua to execute its expansion strategy which will allow it to build on its already impressive track record and expand both domestically and internationally via direct investment and M&A activity."
Mr. Sumner has entered into a non-executive service agreement with Auhua in relation to his appointment to the board. Mr. Sumner will receive an annual salary and is entitled to receive, for no consideration, up to 6,356,450 ordinary shares of the Company as a sign-on bonus (10 per cent of the Company's entire issued share capital) and another 6,356,450 ordinary shares of the Company (10 percent of the Company's entire issued share capital) if he achieves a predetermined fundraising milestone within 6 months of his appointment.
Further information as required by Schedule 2 paragraph (g) of the AIM Rules for Companies is provided below.
Current Directorships | Past Directorships |
Diamond Wood China Limited (Hong Kong) | Dunamis Capital Limited (Seychelles) |
Dunamis Capital Limited (Hong Kong) | |
Dunamis Capital Dubai Limited DIFC (UAE) | |
Greensky Innovations Limited (Seychelles) | |
GSI Innovations Limited (Seychelles) | |
Medicsight PLC (UK) | |
Medicsight PTY (Australia) | |
Medicsight KK (Japan) | |
Medictrainer PLC (UK) | |
Medicendo Limited (UK) | |
Pillar Associates Limited (UK) |
There is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies.
---ENDS---
Further Enquiries:
Auhua Clean Energy plc | Raphael Tham, Chairman | +65 9768 6046 |
Grant Thornton UK LLP (Nominated Adviser)
| Philip Secrett/ Maureen Tai/ Jamie Barklem | +44 (0)20 7383 5100 |
Beaufort Securities Limited (Broker) | Christopher Rourke/ Guy Wheatley | +44 (0)20 7382 8300 |
Brunswick Group | Heather Salmond/ Jade Mamarbachi / Carolina Danspeckgruber | +971 4 446 6270 / +44 20 7404 5959 |
About Auhua Clean Energy
Auhua Clean Energy (www.auhuacleanenergy.com) is an environmental technology group based in the Shandong Province of Eastern China specialising in the development and application of green energy and energy efficient solar water heating solutions. In particular, the Group is focused on the manufacture and sale of split-unit solar water heating systems.
Auhua Clean Energy operates through its wholly owned subsidiaries Shandong Auhua New Energy Co., Ltd and Weihua Auhua New Energy Co., Ltd., of which Auhua Holdings Pte Ltd is the intermediate holding company.
ACE.L (ACE)