TIDMSCIR

RNS Number : 4063R

Scirocco Energy PLC

01 March 2023

1 March 2023

Scirocco Energy plc

("Scirocco" or the "Company")

Board Changes

Scirocco (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to announce the appointment of Niall Roberts as a Non-Executive Director.

Mr. Roberts joins Scirocco's Board of Directors as a candidate recommended by GP Jersey, the Company's largest shareholder with a holding of 8.82%. Mr. Roberts is presently CEO of Fluechem Ltd, a global leader in the environmental transformation of the shipping industry. Mr. Roberts has worked with a number of fertilizer manufacturers since 2012 and as a result brings relevant expertise within the European fertilizer market that will support the delivery of Scirocco's strategic expansion into the Anaerobic Digestor and Bio-fertilizer markets.

Following the appointment of Mr. Roberts, Scirocco's Board of Directors (the "Board") now consists of four Non-Executive Directors, including the Chairman, and the CEO. It is the intention of the Board to reduce its size in the coming months to ensure it is appropriately sized from a cost discipline perspective while maintaining the appropriate level of expertise, public markets experience and independence to deliver the Company's strategy on behalf of the shareholders.

In this regard, Muir Miller has served notice of his intention to step down from the Board on 31 May 2023. Mr. Miller joined the Board in February 2021 and has provided the Company with valuable insight around renewable energy assets based on his extensive prior experience. Mr. Miller was also responsible for setting up the Company's ESG strategy in compliance with the UN sustainable development goals and will provide a managed handover of his renewable energy brief to Mr. Roberts.

Going forward, and as part of an ongoing process to ensure the Board provides the appropriate range of experience and expertise taking account of the Company's forward strategy, the Board intends to review its composition as the Company makes further progress on its own transition from an investor in natural resources to renewable energy assets over the coming year.

Commenting on the appointment, Alastair Ferguson, Chairman of Scirocco, said:

"We welcome Niall to the Board and look forward to benefitting from his experience and insights. Niall brings directly applicable experience within Scirocco's sector focus which will be beneficial as the Company seeks to deliver its stated strategy. We also believe it is important to demonstrate the Board's alignment to the wider shareholders and the appointment of a director candidate recommended by our largest individual shareholder does just that. GP Jersey is very supportive of the Company's growth strategy and this appointment will strengthen the Company's execution of those objectives.

I'd like to thank Muir for his service in support of Scirocco during a period of transition for the Company and wish him well as he pursues other interests. His insights and experience within renewable energy sectors and developing the Company's ESG strategy has been valuable and he now hands that baton over to our new NED to ensure continuity of access to that critical knowledge base and network."

AIM Rules for Companies, Schedule 2(g) Disclosures

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

Mr Jonathan Niall Thornill Roberts (aged 32)

 
 Current Directorships    Past Directorships (in the 
                           last five years) 
 Fluechem Ltd             EcoHaulage Limited 
                         --------------------------- 
 Fluechem Holdings Ltd    ECOUREA Limited 
                         --------------------------- 
 UK Consumables Limited   EPAR Trading Limited 
                         --------------------------- 
                          Global Pollution Authority 
                           Limited 
                         --------------------------- 
                          Prasinus Holdings Ltd 
                         ---------------------------

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

For further information:

 
 Scirocco Energy plc 
  Tom Reynolds, CEO                            +44 (0) 20 
  Doug Rycroft, COO                             7466 5000 
 
   Strand Hanson Limited, Nominated Adviser 
   Ritchie Balmer / James Spinney / Robert       +44 (0) 20 
   Collins                                       7409 3494 
 
   WH Ireland Limited, Broker                    +44 (0) 0207 
   Harry Ansell / Katy Mitchell                  220 1666 
 
   Buchanan, Financial PR 
   Ben Romney / Jon Krinks                    +44 (0) 20 7466 5000

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