Kedco PLC Appointment of Chief Executive Officer (5810M)
September 19 2012 - 2:00AM
UK Regulatory
TIDMKED
RNS Number : 5810M
Kedco PLC
19 September 2012
Press release 19 September 2012
Kedco plc
("Kedco" or the "Company")
Appointment of Chief Executive Officer
The Board of Directors of Kedco is pleased to announce the
appointment of Gerry Madden as Chief Executive Officer ("CEO") with
immediate effect.
Gerry has been Finance Director of Kedco since 2007 and has been
Interim CEO since March 2011. As Interim CEO he led a restructuring
and refocusing of group operations during 2011 and was responsible
for securing a landmark project finance deal with RBS for the
funding of the Company's Newry Biomass Power Plant in November
2011. Gerry led the recent proposed restructuring of the Company's
capital structure and also oversaw the Company reachingits recent
milestone of the exportation and sale of electricity from its Newry
Biomass Power Plant, as announced on 12 September 2012. This event
transformed the Company from being solely a developer of renewable
energy projects to being a producer of clean energy.
Gerry has nearly thirty years of experience in business in the
UK, Ireland and internationally. He spent sixteen years working
with international accountants KPMG and is a Fellow of the
Institute of Chartered Accountants. He played a pivotal role in the
process which led to Kedco being admitted to AIM in October 2008.
He has acted as a Non-Executive Director of various companies in
the Technology, Healthcare and Retail Sectors. He is a graduate of
University College Cork.
Gerry will act as Interim Finance Director until a new
appointment is made, which the Company expects to announce in the
coming months.
Dermot O'Connell, Chairman of Kedco, commented:
"We are delighted that Gerry's appointment as CEO has now been
made permanent. He has exactly the right combination of senior
management experience, financial expertise, project development
knowledge and commercial know-how to ensure that we maximise the
value of Kedco's assets as we move from renewable project
development to production and commercial development of our project
assets."
- Ends -
For further information:
+353 (0)21 483
Kedco plc 9104
Gerry Madden, CEO
+44 (0)20 7936
Deloitte Corporate Finance - Nomad 3000
Jonathan Hinton / David Smith
+44 (0)20 7638
SVS Securities plc - Broker 5600
Ian Callaway / Alex Mattey
+44 (0)20 7398
Abchurch Communications 7714
Ashleigh Lezard / Shabnam Bashir
Further information on Kedco plc
Kedco plc's business strategy is to identify, develop, build,
own and operate renewable energy electricity and heat generation
plants in the UK and Ireland. These plants will contribute to the
need for sustainable energy from renewable sources.
The Company possesses significant knowledge of renewable energy
markets, clean technologies, biomass and waste fuel sources,
project development, project finance and project delivery.
Kedco has a strong pipeline of additional plants at varying
stages of development, including a site in North London with full
Planning and Environmental Permission for the conversion of 60,000
tonnes of waste timber per annum into up to 12MW of electricity and
heat. The Company is also currently engaged in the planning process
for proposed biomass projects in Rutland, East Anglia and Clay
Cross, Derbyshire.
Kedco was admitted to trading on AIM, a market operated by the
London Stock Exchange, in October 2008 (AIM:KED).
www.kedco.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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