Appointment of new Finance Director

RNS Number : 5875M

AFC Energy Plc

28 August 2013

 



  AFC Energy PLC

    ("AFC Energy" or "the Company")

      Appointment of new Finance Director

AFC Energy, the fuel cell energy developer for industry, announces the appointment of Jane Dumeresque as Finance Director and Company Secretary with effect from 2 September 2013. After a short handover period, Jane will take over from David Marson who has worked with the Company on a consultancy basis since 2009 and is leaving to concentrate on his other business interests, including a medical technology MBO which he jointly led in July.

Jane Dumeresque will be a permanent employee of AFC Energy and brings more than a decade of board level experience in public and private companies, as well as capital markets, to the Company. She is a qualified chartered accountant and a MBA from the London Business School. 

After qualifying as an ACA with KPMG, Mrs Dumeresque spent five years at Citicorp and held senior roles at Gordon House Securities, JD Capital Management Ltd, Principal Investment Management Ltd and Lawshare Ltd.  From 2006 to 2009 Mrs Dumeresque served as Group Finance Director of AIM-quoted financial services firm, Syndicate Asset Management plc (now called Ashcourt Rowan plc), which had over 320 employees and an annual turnover of over £45m during that period.  Following this she was Director of Development and External Relations for Ardingly College and is currently a Non-Executive Director of JapanInvest Group plc, a pan Asian equity research and sales business listed on the Tokyo Stock Exchange.

Tim Yeo, Chairman of AFC Energy, said: "I am delighted to welcome Jane to the Company and its Board. Her wealth of experience in the City and the corporate sector will further strengthen our credibility with customers and investors as our commercialisation phase gains momentum. At the same time, I would like to thank David for his considerable contribution and wish him well for the future."

Commenting on her appointment, Jane Dumeresque said: "This is an exciting time to join AFC Energy as it moves to convert the fruits of its world-class innovation in low cost fuel cell power generation into commercial success in the years ahead."

David Marson said:  "I am proud to have supported the development of AFC Energy for the past four years during which time it made huge technical progress while also building a strong financial position.  The time is now right for the Company to have an in-house finance director as it moves to manufacturing scale-up and commercialisation."

Regulatory disclosures:

Jane Grace Dumeresque, aged 54, is, or has been within the last five years, a director of the following companies:

Current Directorships	Directorships within the last five years
Furnace Wood Road Fund Association Limited JapanInvest Group plc JD Capital Management Manteion Ltd	Ashcourt Rowan plc AJ Bell Securities Limited Lawshare Nominees Limited Robinson Gear (Management Services) Limited Epic Investment Partners Limited Rowan & Company Capital Management Ltd Ashcourt Holdings Limited Savoy Investment Management Limited Hume Capital Management Limited

Jane Dumeresque owns 20,000 ordinary shares in AFC Energy, equivalent to 0.009% of the Company's total issued share capital.

There are no further disclosures to be made in accordance with Schedule 2(g) of the AIM Rules.

For further information please contact:

AFC Energy plc Ian Williamson, Chief Executive Ian Balchin, Deputy Chairman David Marson, Finance Director & Company Secretary	[phone]
Luther Pendragon - Public Relations Adviser Neil Thapar Alexis Gore James Foster	[phone]
Peat & Co. - Corporate Broker                                                Charlie Peat	[phone]
Allenby Capital Limited           Jeremy Porter                                        James Reeve	[phone]

About AFC Energy

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using platinum free, advanced materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.

 

END

 

 

MSCEAPPXASLDEFF