Board Changes

Scirocco Energy PLC

01 June 2023

 

1 June 2023

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Board Changes

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, confirms that, as announced on 1 March 2023, Muir Miller has stepped down as a director of Scirocco Energy plc.

Mr Miller will be replaced by Niall Roberts on the board of Energy Acquisitions Group Ltd ("EAG"). Scirocco owns 50% in the EAG Joint Venture which wholly owns and operates Greenan Generation Limited ("GGL"), a 0.5MW Anaerobic Digestor ("AD") plant in Northern Ireland.  

During the bulk of his tenure as a director Mr Miller agreed to defer his director fees to preserve cash in the company. In order to meet its obligations to him - and consistent with other directors - the company has entered into an Options Deed which awards options to Mr Miller to subscribe for shares in order to settle the total salary deferred between March 2021 and August 2022.

Alastair Ferguson, Chairman of Scirocco stated "I want to thank Muir on behalf of our fellow Directors for his personal and professional contribution to Scirocco during a challenging period which saw the company transition from a natural resources investor to an investor in sustainable energy assets.

Muir's experience and knowledge, especially with regards to ESG and renewable energy sectors, has assisted the company in both identifying and assessing a range of potential investments.  We wish him well with his future endeavours."

For further information:

Scirocco Energy plc Tom Reynolds, CEO	[phone]
Strand Hanson Limited, Nominated Adviser Ritchie Balmer / James Spinney / Rory Murphy	[phone]
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell	[phone]
Buchanan, Financial PR Ben Romney / Jon Krinks / George Pope	[phone]

 

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