Andalas Energy and Power Plc Board and Management Changes

 
TIDMADL 
 
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                   Tel: +44 20 7894 
                (Nominated Adviser and Joint Broker)       7000 
 
Jon Belliss     Beaufort Securities Limited                Tel: +44 20 7382 
                (Joint Broker)                             8415 
 
 
 
 
END

(END) Dow Jones Newswires

October 31, 2017 03:00 ET (07:00 GMT)

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