TIDMADL

RNS Number : 5136D

Andalas Energy And Power PLC

20 February 2020

For immediate release

20 February 2020

Andalas Energy and Power Plc

('Andalas' or the 'Company')

Review of Strategy

Andalas Energy and Power plc (AIM:ADL) is pleased to announce that, following the recent changes to the Board as announced on 4 February 2020, the Board and Management are to conduct a review of the business with a view to formulating a revised strategy.

This review will address the current assets in the UK and Indonesia as well as additional growth options in order to maximise the value of the existing platform.

The Board expects to complete its review within the next two weeks with further communications to follow soon thereafter.

It was earlier announced that the Company proposes a name change to Advance Energy plc subject to shareholder approval at a General Meeting scheduled for 26 February.

For further information, please contact:

 
 Leslie Peterkin         Andalas Energy and Power    Tel: +44 1624 681250 
                          Plc 
                          c/o FIM Capital Limited 
 Graham Smith            FIM Capital Limited         Tel: +44 1624 681250 
 Roland Cornish/ James   Beaumont Cornish Limited    Tel: +44 20 7628 3396 
  Biddle                  (Nominated Adviser) 
 Colin Rowbury           Novum Securities Limited    Tel: +44 207 399 9427 
                          (Joint Broker) 
 Christian Dennis        Optiva Securities Limited   Tel: +44 20 3411 1881 
                          (Joint Broker)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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