Directorate Change

RNS Number : 2210V

Good Energy Group PLC

11 December 2013

 

Good Energy Group plc

(the "Company" or "Good Energy")

Directorate Change

The Board announces that the current Group Finance Director Garry Peagam has notified the Company that he will step down as an executive director of the Company at the time of the Company's annual general meeting to be convened in respect of the year ending 31 December 2013 which is likely to take place in May 2014 (the "2013 AGM"). Mr Peagam has been invited by the Board, and has agreed, that at the 2013 AGM he will become a Non-Executive Director of the Company.

John Maltby, Chairman of the Group commented:

"Garry was brought in as Group Finance Director in 2010, 18 months before Good Energy's admission to AIM in July 2012. Under Garry's financial direction, now 18 months post admission, the Company has grown significantly in terms of its project development and supply businesses, has further developed its record of profitability and dividend payments and has completed significant debt and equity fundraisings to create significant value accretion for its shareholders. Garry has agreed to assist in the search for, and transition of, a new Finance Director and we wish him all the best for the future and look forward to working with him in his non-executive capacity."

Enquiries:

Good Energy Group plc Juliet Davenport, Chief Executive Garry Peagam, Group Finance Director	Tel. [phone]
N+1 Singer (Nominated Adviser and Broker) Andrew Craig / Ben Wright	Tel: [phone]

Notes to editors

·      Good Energy is a licensed electricity supplier. It ensures that all of its customers' demand is 100% matched with electricity from renewable sources over the course of 12 months, backed by Renewable Energy Guarantee of Origin certificates (REGOs).  To compare the fuel mix of other suppliers please visit: www.electricityinfo.org/suppliers.php 

·      Good Energy Group plc is listed on the AIM market of the London Stock Exchange. For more information please visit: www.goodenergygroup.co.uk 

·      Good Energy's first corporate bond, which it promoted to its customer base, reached the £15 million maximum subscription on 24th October 2013, three weeks ahead of schedule www.goodenergy.co.uk/bond

·      Good Energy has over 35,000 renewable electricity customers. In 2008, Good Energy added a gas product to its range. It now has more than 12,000 gas customers.

·      Good Energy works with a community of over 55,000 small and medium scale renewable electricity generators.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm. It has targeted the development of 110MW of capacity of new renewable electricity generation assets by 2016.

·      Good Energy is a founder member of the Social Stock Exchange.

·      Good Energy has recently won a number of awards and accolades, including:

o  Good Energy came top in the latest Which? Customer Satisfaction Survey for energy suppliers, and has won first place in three of the last four years.

o  Good Energy won the Company of the Year Award in the British Renewable Energy Awards 2013.

o  In 2013, Good Energy was named as the best green electricity supplier by the UK's leading ethical and environmental magazine, Ethical Consumer.

 

END

 

 

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