Ncondezi Energy Limited Hanno Pengilly Appointed as CEO Directorate Change (2568P)
09 Octubre 2019 - 1:01AM
UK Regulatory
TIDMNCCL
RNS Number : 2568P
Ncondezi Energy Limited
09 October 2019
News Release
Hanno Pengilly Appointed as CEO - Directorate Change
9 October 2019: Ncondezi Energy Limited ("Ncondezi" or the
"Company") (AIM: NCCL) is pleased to announce the appointment of
Hanno Pengilly as a Director of the Company and the Company's new
Chief Executive Officer ("CEO").
Hanno has considerable knowledge in the power and mine sectors
on the back of his experience in the business over the last 10
years. Hanno joined the Company in 2010 and has been the Company's
Chief Development Officer since May 2012. Hanno has been
responsible for managing key project milestones including the
delivery of the power plant and mine feasibility studies in 2013
and 2014. Since May 2017, Hanno has led the Company's strategic
partner process, which successfully resulted in the signing of a
binding Joint Development Agreement ("JDA") in July 2019, and led
the Company in key negotiations with the Mozambique government and
state power utility Electricidade de Moçambique ("EDM").
Ncondezi Non-Executive Chairman, Michael Haworth said: "Hanno's
appointment to the Board as CEO is an important milestone in
providing confidence for the Company's future. The appointment
outlines Hanno's commitment to the Company and comes at an
important time following the signing of the JDA and as the Board
implements its strategy to finalise the power tariff submission to
EDM and move the Ncondezi Project forward."
Newly appointed CEO, Hanno Pengilly said: "Energy growth is
critically important for Africa as a key catalyst for economic
development. Ncondezi is uniquely positioned to take advantage of
baseload power generation development in Mozambique at an important
time for the country. I'm excited to be stepping into the role of
CEO which represents a great opportunity to lead the Company and
create value for shareholders. The Company's 300MW Ncondezi Project
is one of the most advanced baseload power plant projects in
Southern Africa with market leading co-development partners.
Additionally, it is clear that a significant opportunity exists
to provide off grid solutions in Africa. To this end, Ncondezi's
developing position in the African captive solar and battery
storage sector through the proposed Joint Venture with GridX Africa
Development, offers a strategic approach to a new growth
market.
I look forward to meeting investors in my new position as CEO
and am confident that we have the right team to complete our
objectives and achieve meaningful results"
Hanno will be representing Ncondezi at the Shares Investor
Evening at Macdonald Manchester Hotel, Manchester, M1 2PG from
17:00 on Thursday 10th October. The event will provide investors
with an opportunity to hear about the progress being made at the
Ncondezi Project with its co development partners as well as other
initiatives.
Regulatory disclosures:
Hanno Crosland Pengilly, aged 35, has held the following
directorships or partnerships in the past five years:
Current directorships/partnerships Past directorships/partnerships
Ncondezi Power Holding 2 Limited Great Force Investments 205 (Pty)
Limited
----------------------------------
Zambezi Energy Corporation Holding Sandobel 160 (Pty) Limited
1
----------------------------------
Zambezi Energy Corporation Holding
2
----------------------------------
Ncondezi Power Company S.A.
----------------------------------
Ncondezi Coal Company Mozambique
Limitada
----------------------------------
Qora Limited
----------------------------------
Vanka Investments Limited
----------------------------------
Herne Capital (Pty) Limited
----------------------------------
Fashion by Diane (Pty) Limited
----------------------------------
Moongate 163 (Pty) Limited
----------------------------------
Devine Inspiration Trading 658
(Pty) Limited
----------------------------------
Gallos Energy (Pty) Limited
----------------------------------
In March 2018, Sandobel 160 (Pty) Limited ("Sandobel"), a
Company of which Hanno Pengilly was a director, had a liquidation
application against it which has subsequently been postponed by
agreement between the parties until February 2020. Hanno Pengilly
ceased to be a director of Sandobel on 28 March 2019.
Hanno Pengilly is interested in 6,937,830 ordinary shares in the
Company ("Ordinary Shares") which are under option to him. Hanno
Pengilly is also interested in 291,375 Ordinary Shares,
representing 0.1% of the Company's issued share capital. Hanno
Pengilly also, as at 1 October 2019, holds approximately $126,000
of the Company's c.US$4.1 million shareholder loan. At the
shareholder loan conversion price of 10 pence per share, Hanno's
holding is convertible into approximately 969,231 Ordinary Shares,
although this number is subject to adjustment in certain
circumstances, including prior to the loan becoming payable, as
previously disclosed.
There is no further information to be disclosed pursuant to
Schedule 2(g) of the AIM Rules for Companies.
Enquiries
For further information please visit www.ncondezienergy.com or
contact:
+44 (0) 7555 180
Ncondezi Energy: Hanno Pengilly 708
Liberum Capital Limited: Andrew Godber, Edward Thomas, +44 (0) 20 3100
NOMAD & Joint Broker Kane Collings 2000
Novum Securities
Limited +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
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 +44 (0) 7555 180 708.
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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