TIDMEAAS

RNS Number : 3867U

eEnergy Group PLC

28 March 2023

28 March 2023

eEnergy Group plc

("eEnergy" or "the Group")

Directorate Change

eEnergy (AIM: EAAS), the net zero energy services provider, is pleased to announce, further to the announcement of 25 November 2022, the appointment of John Foley as Non-Executive Chairman of the Company, with immediate effect. David Nicholl remains on the eEnergy board as a Non-Executive Director.

John is a barrister and chartered accountant who has served on a number of public and private company boards. He was CEO of MacLellan Group plc, a UK facilities management provider, for 12 years until its sale in 2006 to Interserve plc for an enterprise value of GBP130 million. He was co-founder of Premier Technical Services Group Ltd (PTSG) a specialist provider of facilities services, and was its Chairman from inception in 2007 until early November 2022 (he remains a Non-Executive Director). PTSG became a public listed company in 2015 and was acquired by Macquarie Group Ltd in 2019 for an enterprise value of approximately GBP300 million which represented a 304% premium to the 2015 listing share price. He is also currently Chairman of SEC Newgate Spa, the parent company of a global strategic communications and advisory group and is also Chairman of Servoca Plc, a provider of staffing solutions and outsourced services.

On 25 November 2022, the Group announced that it had raised GBP2,525,000 through the issue of secured discounted capital bonds (the "Subordinated Debt") which are due for repayment on 24 May 2024 and 21 June 2024. GBP1 million of this Subordinated Debt was provided by FFIH Limited ("FFIH"), an investment company owned by John Foley and his wife. In connection with the Subordinated Debt, FFIH was granted warrants to subscribe for 16,666,666 ordinary shares in eEnergy. Further details on the Subordinated Debt and associated grant of warrants are included in the Company's announcement of 25 November 2022.

Harvey Sinclair, CEO of eEnergy Group plc, commented : "We are pleased to welcome John Foley to the eEnergy Board as Non-Executive Chairman following his support in the Company's debt financing round in November though his investment company FFIH. He brings with him a wealth of experience in our sector and has a strong track record in growing businesses and creating value for shareholders. He will certainly be an asset to the team. David Nicholl moves to a Non-Executive Director and we look forward to our continued relationship."

Regulatory Disclosures

In accordance with Schedule 2(g) of the AIM Rules for Companies, John Robert Foley (aged 67) is, or has been within the previous five years, a director or partner of the following companies or partnerships:

 
 Current directorships/partnerships                     Previous directorships/partnerships 
 
        *    Premier Technical Services Group Limited          *    Penta Consulting Limited 
 
 
        *    Servoca plc                                       *    PTSG Access and Safety Limited 
 
 
        *    Penta Consulting Holdings Limited                 *    PTSG Steeplejacking Limited 
 
 
        *    Penta NC1 Limited                                 *    PTSG Steeplejacks Limited 
 
 
        *    Penta NC1 Limited                                 *    ENSCO 835 Limited 
 
 
        *    Penta Ultimate Holdings Limited                   *    Guardian Cradle Maintenance Ltd 
 
 
        *    FFIH Limited 
 
 
        *    Hotham Killinghall Limited 
 
 
        *    UKFH Limited 
 
 
        *    SEC Newgate Global Strategy Spa (Italy)

On 13 May 2008, Hat Pin Plc, of which John Foley was a director, was placed into administration. Hat Pin Plc was subsequently placed into creditor's voluntary liquidation on 6 May 2009 and was dissolved with a final deficit as regards to creditors of GBP2.3 million on 27 February 2015.

On 24 August 2003, John Foley resigned as a director of Elequip Holdings Limited. On 10 October 2003, Elequip Holdings Limited was placed into administrative receivership with an estimated deficit as regards to creditors of approximately GBP3.5 million. The underlying trade and assets of the Elequip Holdings Limited group were sold by the administrative receiver and the company was dissolved on 2 December 2008.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.

Contacts:

 
 eEnergy Group plc                     Tel: +44 20 7078 9564 
 Harvey Sinclair, Chief Executive      info@eenergyplc.com ; www.eenergyplc.com 
  Officer 
  Crispin Goldsmith, Chief Financial 
  Officer 
 Singer Capital Markets (Nominated     Tel: +44 20 7496 3000 
  Adviser and Joint Broker) 
 Justin McKeegan, Asha Chotai, 
  James Maxwell (Corporate Finance) 
  Tom Salvesen (Corporate Broking) 
 Canaccord Genuity Limited (Joint      Tel: +44 20 7523 8000 
  Broker) 
 Max Hartley, Tom Diehl (Corporate 
  Broking) 
 Tavistock                             Tel: +44 207 920 3150 
 Jos Simson, Heather Armstrong,        eEnergy@tavistock.co.uk 
  Katie Hopkins

About eEnergy Group plc

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering organisations to achieve net zero by tackling energy waste and transitioning to clean energy, without the need for upfront investment. It is making net zero possible and profitable for all organisations in four ways:

 
      --   Transition to the lowest cost clean energy through the 
            Group's digital procurement platform and energy management 
            services. 
      --   Tackle energy waste with granular data and insight on 
            energy use and dynamic energy management. 
      --   Reduce energy use with the right energy efficiency solutions 
            without upfront cost. 
      --   Reach net zero with onsite renewable generation and 
            electric vehicle (EV) charging.

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy Mark by London Stock Exchange.

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