Andalas Energy and
Power plc
(‘Andalas’, or the
‘Company’)
Board and
Management Changes
Andalas Energy and Power plc (AIM:ADL) is pleased to announce
the following changes to its board and senior management. The
changes reflect the transition of the Company’s focus from business
development to project execution.
Mr Paul Warwick will retire from
his role as Chairman of the board. Mr David Whitby will assume the role of Chairman,
Dr Robert Arnott will be appointed
senior non-executive director and Mr Simon
Gorringe will become Chief Executive Officer. The
changes will take effect immediately.
The Company’s new Chairman, David
Whitby, said “Andalas is moving into its next phase as an
IPP developer. Whilst the Company will continue its business
development programme, the recent operational progress dictates
that our day to day focus shifts to project execution. As
COO, Simon has been at the centre of the company’s business
development initiatives and his experience and track record of
delivering international energy projects, including Indonesian
projects, makes him the ideal candidate to deliver Andalas’ next
phase of development and ultimately first power.
“On behalf of the board, I would like to extend our thanks to
Paul for his service and much valued advice during his tenure as
Chairman and wish him well in his future endeavours.”
Outgoing Chairman, Paul Warwick
said “It has been a pleasure being a member of the board of
Andalas. We had embarked on an ambitious journey, but we have
delivered on our strategic intent of creating a company focussed on
power opportunities in Indonesia
with world class partners. Dave has been essential to
delivering Pertamina as our partner, which I believe is a unique
achievement for a start-up and creates a great platform for the
future, which he will continue to develop in his role as
Chairman. Simon is the right candidate to replace him as CEO,
because he has the requisite skills and intimate understanding of
our projects to drive the business forward as it focusses on
project development.
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 ('MAR’). Upon the publication of this
announcement via a Regulatory Information Service ('RIS'), this
inside information is now considered to be in the public
domain.
For further information, please contact:
David Whitby |
Andalas Energy and
Power Plc |
Tel: +62 21 2783 2316 |
Sarah Wharry
|
Cantor Fitzgerald
Europe
(Nominated Adviser and Joint Broker) |
Tel: +44 20 7894 7000 |
Jon Belliss |
Beaufort Securities
Limited
(Joint Broker) |
Tel: +44 20 7382 8415 |
|
|
|