TIDMECOB
RNS Number : 1771A
Eco Buildings Group PLC
18 January 2024
18 January 2024
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in
the United Kingdom. Upon publication of this Announcement, this
information is now considered to be in the public domain.
Eco Buildings Group plc
(the "Company" or the "Group")
Board Changes
Eco Buildings Group plc (the "Company" or the "Group") is
pleased to announce the following board changes that the Board
believes marks a new chapter in its journey towards sustainable
growth and success.
Board Change - Retirement of Andrew Allner
Andrew Allner served as Chairman of Fox Marble Holdings PLC for
over 12 years and continued as Chairman of Eco Buildings Group PLC
following the RTO. He now feels, following the completion of the
RTO, the relocation of the Company's factory from Dubai to Durres,
and the successful production of our first wall that now is the
time for him to retire. He has played a pivotal role in leading the
Board and Company through a transformative period and the Company
extends its gratitude for his invaluable contribution throughout
his tenure.
Appointment of Don Nicolson as Chair with Handover Period
Eco Buildings is pleased to announce that Don Nicolson has been
appointed to take on the role of non-Executive Chairman. Don is a
senior business leader with 40 years experience in a range of
sectors, both in the UK and internationally. He has held multiple
executive and non-executive roles in both publicly listed and
private companies. Don spent 26 years at BP, where senior roles
included Director North Sea and Chief of Staff to BP's E&P CEO.
Other notable roles include, Chairman and interim CEO for Spain's
Levantina Natural Stone Company, E&P Advisory Board member for
SSE plc and Independent non-Executive Director for Scirocco Energy
plc. Don is currently Non-Executive Chairman of Zenova Group
plc.
To ensure a smooth transition, a handover period will take place
until the end of February, during which Andrew and Don will
collaborate closely to transfer responsibilities and knowledge.
Dismissal of Dominic Redfern
The Company confirms the immediate dismissal of Dominic Redfern,
Executive Vice Chairman, for cause. This decision aligns with our
commitment to upholding the highest standards of conduct within our
organisation.
Confidence in Future Growth
As we bid farewell to Andrew Allner, we express our heartfelt
thanks for his significant contributions to the Group over the last
twelve years. Don Nicolson, with his wealth of operational
experience, steps in to steer Eco Buildings, as we transition into
full production at the new Durres factory. We remain confident in
our trajectory in the modular housing sector, and a positive future
for Eco Buildings Group PLC.
Outgoing Chairman Andrew Allner , "I have very much enjoyed my
time at Fox Marble and at Eco Buildings. We have faced a number of
challenges over the years and whilst business has not been easy Fox
Marble is now showing signs of stabilisation. I believe that the
modular building sector will see significant future growth and
opportunity across the world and that Eco Buildings is well
positioned to take advantage of these trends and create value for
shareholders. I am very pleased that Don Nicolson, with his
extensive business experience, is taking over from me and I wish
him and the Company the best of luck."
Don Nicolson, incoming Non-Executive Chairman at Eco Buildings ,
"I have been familiar with Eco Buildings since well before the RTO,
I'm honoured to lead the Company through its next developmental
strides. Leveraging the substantial order book, we aim to
accelerate growth, which is a key strategic focus for the Company.
I extend my gratitude to Andrew for steering the Company to this
stage, allowing me to guide the Company on delivering orders in
Albania and expanding into new markets. "
Sanjay Bowry, CEO of Eco Buildings , states, "I express my
sincere gratitude to Andrew for his invaluable advice, instrumental
in propelling Eco Buildings to this critical pre-full-production
stage. I warmly welcome Don to our Board, anticipating a
collaborative effort to tap into tremendous growth opportunities
for eco-friendly, modular housing on a global scale. Together, with
Don's wealth of strategic, commercial and operational experience,
we are poised for substantial success, making this news exciting
for all our stakeholders."
For more information on Eco Buildings, please visit
www.eco-buildingsplc.com or contact:
Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Tel: +44 (0)20 7380 0999
Nominated Adviser: Spark Advisory Partners Limited
Matt Davis / James Keeshan
Tel: +44 (0)20 3368 3550
Broker: Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Tel: +44 (0)20 3192 1739
AIM Rules Schedule 2(g) disclosures
The following information is disclosed in accordance with Rule
17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies
in connection with the appointment of Donald Oag Nicolson, aged 63,
to the Board of the Company.
Current directorships Past directorships (held within
the last five years)
Zenova Group Plc Scirocco Energy Plc
Zenova Distribution Ltd
Zenova Ltd
Levantina Y Asociados De Minerales,
S.A.U.
There are no further disclosures required in accordance with
Rule 17 or Schedule 2(g) of the AIM Rules.
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END
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(END) Dow Jones Newswires
January 18, 2024 06:01 ET (11:01 GMT)
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