Kedco PLC Result of AGM (9245T)

TIDMKED

RNS Number : 9245T

Kedco PLC

19 December 2012

 
 Press Release   19 December 2012

Kedco plc

("Kedco" or the "Company")

Result of 2012 AGM

Kedco plc, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, announces that at its AGM held earlier today, Resolutions 1 and 3 and 4 to 6 as set out in the notice of meeting dated 26 November 2012 were duly passed.

The Board was notified prior to the meeting that Mr Donal O'Sullivan and Mr Diarmuid Lynch who were retiring by rotation from the board in accordance with the articles of association of the Company were not now presenting themselves for re-election. Accordingly the Directors sought and received consent at the AGM to withdraw Resolution 2 relating to the re-election of those directors. Both Mr O'Sullivan and Mr Lynch are no longer directors of the company as of today's date.

Mr Lynch is also stepping down from his role as company secretary and Mr Brendan Halpin, an executive director of the Company, will assume this position with immediate effect. Mr William Kingston has also resigned as a non-executive director of the Company as of today's date.

Following this announcement, Kedco has two executive directors and two non-executive directors. It is the Company's intention to appoint a senior independent non-executive director to the board in the next six months.

Mr Dermot O'Connell, Chairman of Kedco, commented: "I would like to thank all three individuals for their contribution and service to Kedco and wish them well for the future. All of the Board have overseen a busy period of financial restructuring and refining of the Company's strategic aims. The input of all Directors has been invaluable in creating a stable platform for further growth throughout 2013 and beyond. "

- Ends -

For further information:

 
                                                 +353 (0)21 483 
Kedco plc                                         9104 
Gerry Madden, CEO and Interim Finance Director 
                                                 +44 (0)20 7936 
Deloitte Corporate Finance - Nomad                3000 
David Smith / Byron Griffin 
                                                 +44 (0)20 7638 
SVS Securities plc - Broker                       5600 
Ian Callaway / Alex Mattey 
                                                 +44 (0)20 7398 
Abchurch Communications                           7712 
Ashleigh Lezard / Shabnam Bashir

About 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, fuel sources, project development, project finance and project delivery.

Kedco has a strong pipeline of renewable energy projects at varying stages of operation and development, including a 4MW plant in Newry in Northern Ireland whose initial phase has commenced operation and 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 renewable energy 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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