Nandan Cleantec plc Appointment of Three New Non-Executive Directors (7178L)
07 Septembre 2012 - 8:00AM
UK Regulatory
TIDMNAND
RNS Number : 7178L
Nandan Cleantec plc
07 September 2012
7 September 2012
Nandan Cleantec plc
Appointment of Three New Non-Executive Directors
Nandan Cleantec plc ("Nandan" or the "Company"), a scaled
vertically integrated biofuel producer is pleased to announce the
appointment of three new non-executive directors, Kishore Gupta,
Surendra Ajjarapu and Sandesh Pandhare with immediate effect. With
these appointments, the Nandan Board's non-executive representation
is expanded from 2 to 5.
Nandan operates in a wide range of jurisdictions. The rationale
for these appointments is to further strengthen the international
experience and talent of Nandan's Board as the Company looks to
continue to deliver on its IPO commitment to cover more geographies
outside of India.
Kishore Gupta was CEO & Director in SpiceJet Limited, a
publically listed company in India from November 2000 till November
2010 where he had responsibilities in Finance, Legal and other
operational functions. He is an Indian resident.
Surendra Ajjarapu has nearly two decades of experience in energy
and infrastructure investments and has worked on several energy
transactions in wind, hydro, biomass, waste-to-energy and
cogeneration in the US and India. He has served on the board of
directors of AE Biofuels, Inc (now called Aemetis), a US public
company producing renewable chemicals and fuels using patented
microbes and processes. He currently manages a private investment
firm focused on opportunistic investing in the energy and natural
resources sectors. He is a US resident.
Sandesh Pandhare has over 20 years of experience in the global
private equity and investment management industry. He manages a
global portfolio of companies in diverse sectors that include
alternative energy. He is currently Head of Private Equity at
Istithmar World the investment arm of Dubai World which is 100%
owned by the Government of Dubai. Istithmar World is a substantial
shareholder in Nandan. He is a resident of the UAE.
On confirming the appointments Srinivas Prasad Moturi, Chairman
of Nandan, said:
"I would like to welcome Kishore, Surendra and Sandesh to the
Board of Nandan and I look forward to working with them. They will
bring valuable perspectives to the business going forward as well
as being a helpful link between our Indian executive team and our
UK resident non-executives, bringing with them a wealth of
knowledge.
"Kishore has strong corporate governance credentials from his
time at SpiceJet. Surendra and Sandesh have key relationships that
may help Nandan to access capital from the US and Middle East Asia
in the future to further expand the business."
Disclosures under AIM Rule 17
Kishorkumar Somnath Gupta, age 52, is or has been a Director of
the following companies during the previous five years:
Current Directorships Past Directorships
-------------------------------- -------------------------
Royal Holdings Services Limited SpiceJet Limited (India)
(US)
-------------------------------- -------------------------
Surendra Kumar Ajjarapu, age 42, is or has been a Director of
the following companies during the previous five years:
Current Directorships Past Directorships
--------------------------------- ------------------------------
Pinnacle Tek Inc (US) Innovative Systems Inc (US)
--------------------------------- ------------------------------
Connor Information Technology
E8 Capital LLC (US) Inc (US)
--------------------------------- ------------------------------
Universal Biofuels Private
Global IT Holdings Corp (US) Limited (India)
--------------------------------- ------------------------------
Connor Information Technology
Global Exim Inc (US) Limited (India)
--------------------------------- ------------------------------
Bhanodaya Energy Private Limited
(India)
--------------------------------- ------------------------------
Suvarna Renewable Energy Private
Limited (India)
--------------------------------- ------------------------------
DVR Bhanodaya Energy Private
Limited (India)
--------------------------------- ------------------------------
Surendra Ajjarapu was previously Vice President of Global
Information Technology Inc, a business providing Information
Technology Services. In 2001 through Chapter 11 insolvency the
Company was put through a voluntary reorganisation which it came
out of in 2003.
Sandesh Arvind Pandhare, age 46, is or has been a Director of
the following companies during the previous five years:
Current Directorships Past Directorships
----------------------------------- ---------------------------------
Bali Ventures Limited (UAE) Bumrungrad International Ltd
(Thailand)
----------------------------------- ---------------------------------
Barneys Inc (US) Designer Apparel Holding Company
(US)
----------------------------------- ---------------------------------
Barneys New York Inc (US) Loehmann's Holding Inc. (US)
----------------------------------- ---------------------------------
BNY Licensing Corp (US) Diyafa World Limited (UAE)
----------------------------------- ---------------------------------
Istithmar Barneys Asia Acquisition ESPA International (UK) Limited
FZE (UAE) (UK)
----------------------------------- ---------------------------------
Istithmar Bentley Cayman Ltd Gulf Stream Asset Management
(Cayman Islands) LLC (US)
----------------------------------- ---------------------------------
Istithmar Bentley Holding Co IWFS VIII Limited (UAE)
(US)
----------------------------------- ---------------------------------
DW CP Holding Inc. (Canada)
----------------------------------- ---------------------------------
DW Entertainment FZCO (UAE)
----------------------------------- ---------------------------------
Education Media and Publishing
Group Ltd (Cayman Islands)
----------------------------------- ---------------------------------
EMPG International Limited
(Cayman Islands)
----------------------------------- ---------------------------------
Istithmar Education Corp. (Cayman
Islands)
----------------------------------- ---------------------------------
Istithmar Education International
Limited (UAE)
----------------------------------- ---------------------------------
Inchcape Shipping Services
World Ltd (Cayman Islands)
----------------------------------- ---------------------------------
Istithmar World Investment
Management (Dubai) Ltd (UAE)
----------------------------------- ---------------------------------
IWFS X Limited (Cayman Islands)
----------------------------------- ---------------------------------
Overbrook LLC (UAE)
----------------------------------- ---------------------------------
Gulf African Bank (Kenya)
----------------------------------- ---------------------------------
S Chand Harcourt (India)
----------------------------------- ---------------------------------
Sandesh Pandhare was a director of Loehmann's Holdings Inc and
Designer Apparel Holding Company. These were Delaware companies and
entities within the Loehmann's group of companies. On 15 November
2010 the shareholders of the Loehmann's chain of department stores
filed for bankruptcy protection as part of a pre-pack bankruptcy
plan, which became effective on 1 March 2011. As a result
shareholders and creditors agreed to a $20m write-off on the $110m
in long term bonds. Sandesh Pandhare resigned from the board on
exit from bankruptcy.
There is no further information required to be disclosed under
paragraph (g) of Schedule 2 of the AIM Rules.
For further information:
Nandan Cleantec plc
Srinivas Prasad Moturi Tel: +91 40 6550 7799
Arden Partners plc
Steve Douglas Tel: 020 7614 5917
FTI Consulting
Matt Dixon / Emma Appleton Tel: 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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