Directorate Change

RNS Number : 1177E

Velocys PLC

07 February 2018

 

News release

Velocys plc

("Velocys" or "the Company")

7^th February 2018

Directorate Change

Investor feedback received during last month's fundraising expressed a wish to see a strong push to identify strategic partners both at corporate and project level, as well as changes in the structure of the Board. To facilitate the last of these, Julian West has agreed to resign as a Non-executive Director, with immediate effect. The Board will immediately embark into the process of defining the skills it requires from a new Non-executive Director and commission a thorough search.

Julian said, "It's been a treat to work with Velocys over the last 8 years - some impressive people in tough times that have laid a foundation for remarkable achievement. My best wishes in finding the right path forward to realise that potential."

Dr Pierre Jungels, CBE, Chairman of the Board, wishes to thank Julian for his powerful contributions to the Board over the years and in particular for his help as Senior Independent Director during the changes of executives and the review of strategy. His clear analysis and vision helped the Board during this transitional period and will be missed.

- Ends -

For further information, please contact:

Velocys David Pummell, CEO	[phone]
Numis Securities (Nomad and joint broker) Alex Ham Stuart Skinner Jamie Lillywhite Tom Ballard	[phone]
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor Ben Griffiths	[phone]
Camarco (Financial communications & PR) Billy Clegg Georgia Edmonds Tom Huddart	[phone]

www.velocys.com

 

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