Ncondezi Energy Limited Scott Fletcher Director Appointment (5432D)
October 29 2020 - 02:00AM
UK Regulatory
TIDMNCCL
RNS Number : 5432D
Ncondezi Energy Limited
29 October 2020
News Release
Scott Fletcher Director Appointment
29 October 2020: Ncondezi Energy Limited ("Ncondezi" or the
"Company") (AIM: NCCL) announces that further to the announcement
made on 13 October 2020 and following the successful completion of
the necessary due diligence checks, Scott Fletcher MBE has been
appointed as a Non-Executive Director of the Company with immediate
effect.
Ncondezi Non-Executive Chairman, Michael Haworth:
"We are delighted to welcome Scott to the Board. As the
Company's largest individual shareholder, the appointment
demonstrates Scott's further commitment to the Company. Scott is
uniquely placed to represent independent shareholder interests as
we advance our financing strategy for both Ncondezi Energy and our
C&I subsidiary. In the meantime we continue to progress towards
completion of the power tariff negotiations for the Ncondezi Power
Project and look forward to providing further updates on this over
the coming months."
Regulatory disclosures:
The following disclosures in relation to the appointment of
Scott Jonathan Fletcher, aged 47, are required pursuant to Schedule
2(g) of the AIM Rules for Companies:
Current Past
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Lowry Propco (X1 The Studios) Ltd
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Lowry Propco (X1 Town Hall) Limited
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Lowry Propco Limited
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Lowry SPV 1 Limited
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Lowry Trading Ltd
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Pickstar Active Pathways Limited
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Project Daytona BIDCO Limited
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Project Daytona Limited
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Project Nearshore Limited
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Torca Financial Limited
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UK Bond Network Group Limited
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UK Bond Network Holdings Limited
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Vibe Group Holdings Limited
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Wakelet Limited
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Westlab Ltd
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Scott Fletcher is a director of UK Bond Network Group Limited
which has been in administration since 1 November 2019. As at 16
April 2020 the estimated outcome statement prepared by the
Administrators estimated that there would be insufficient funds
available to satisfy all creditors.
Scott Fletcher was a director of RHMD Limited (previously known
as Viapost Limited) which was dissolved via liquidation (Creditors'
voluntary). Administrators were appointed on 12 October 2009 and
the company is now dissolved. There were insufficient funds
available to enable a distribution to unsecured creditors.
Scott Fletcher holds 56,913,197 Ordinary Shares in the
Company.
Scott Fletcher has confirmed there is no further information to
be disclosed in respect of Schedule 2(g) of the AIM Rules for
Companies.
Enquiries
For further information please visit www.ncondezienergy.com or
contact:
Ncondezi Energy Hanno Pengilly +27 (0) 71 362 3566
Liberum Capital Limited Scott Mathieson, Edward Thomas, +44 (0) 20 3100
NOMAD & Joint Broker Kane Collings 2000
Novum Securities Limited +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
Pimlico Advisory Ltd +44 (0) 777 56 55
Investor Relations Elizabeth Johnson 927
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact Hanno Pengilly,
Chief Executive Officer of the Company (responsible for arranging
release of this announcement) on +27 (0) 71 362 3566.
About Ncondezi Energy
Ncondezi is an African power development company with an
advanced staged, integrated 300MW thermal coal power plant and mine
project located in the Tete Province, Northern Mozambique.
The Company is focused on providing reliable, affordable and
accessible baseload energy to Mozambique and secure against the
effects of water drought and intermittency of new renewables. This
project supports Mozambique's energy strategy of universal
electricity access by 2030. According to the World Bank, only 30%
of the Mozambican population had access to energy in 2017. The
Ncondezi Project would provide 300MW of reliable and available
power helping to close the infrastructure gap of the region and
serving as a catalyst for economic development.
The power plant will be designed to be equipped with
state-of-the-art emissions controls technologies that will reduce
local air pollutants, minimizing the plant's impact on the
environment and ensuring its compliance with the most stringent
emission standards
In 2019, the Company entered into the Commercial and Industrial
("C&I") renewable and battery storage sector and in October
2019 announced its first investment in an off grid solar battery
project. The Company has also secured the right to fund a US$5.5m
C&I project development pipeline in Mozambique through a
Relationship Agreement with a C&I developer. The move into the
C&I solar and battery storage sector offers a significant
opportunity for the Company to complement the existing large-scale
baseload power project and access near-term low-risk annuity income
streams which have significant growth potential.
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