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Pires Investments (PIRI)


Monday 01 February, 2021

Pires Investments

Directorate change

RNS Number : 4363N
Pires Investments PLC
01 February 2021

1 February 2021


Pires Investments PLC

("Pires" or the "Company")


Directorate change


Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to announce that David Palumbo has been appointed as a Non-executive Director of the Company, effective immediately.


David is currently the Chief Executive Officer of AIM-listed EQTEC plc ("EQTEC"), a leading gasification technology solutions company for sustainable waste-to-energy projects, having joined EQTEC's board in August 2019. Since becoming Chief Executive Officer, EQTEC's valuation has increased significantly, and the company now has a market capitalisation of over £160 million.


David is an experienced entrepreneur with over 20 years of experience in private equity, venture capital and asset management. Since 2006, he has founded and co-founded a number of companies in various industries such as cleantech, digital technology, and real estate. David is also the Founding and Managing Partner of Origen Capital LLP, a private investment firm representing family offices and private consortia in Europe, CIS and Latin America. He holds a BSc and an MSc in electrical engineering.


Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the following information is disclosed in respect of David Lawrence Palumbo (aged 44):


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Mr Palumbo was appointed as a Director of Eagle Tower Investments Limited on 8 November 2005 and resigned on 24 April 2009. A receiver was appointed on 1 March 2010 and the commencement of winding up the company began on 18 May 2011 and concluded on 12 November 2014. The company was subsequently dissolved via a company liquidation on 19 February 2015.


David Palumbo does not hold any shares or options in the Company.


There is no further information regarding David Lawrence Palumbo required to be disclosed under the AIM Rules.


Peter Redmond, Chairman of Pires, commented:


"We are very pleased to welcome David to the Pires' board. He brings a wealth of relevant experience, an excellent network and reputation; all of which will be extremely valuable as we continue to grow and develop the Company."


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and the Directors of the Company take responsibility for this announcement.




Pires Investments plc

Peter Redmond, Chairman

Nicholas Lee, Director

Tel: +44 (0) 20 3368 8961


Nominated Adviser

Cairn Financial Advisers LLP

Liam Murray/Ludovico Lazzaretti


Tel: +44 (0) 20 7213 0880

Joint Broker

Peterhouse Capital Limited

Duncan Vasey/Lucy Williams


Tel: +44 (0) 20 7469 0935

Tel: +44 (0) 20 7469 0936

Joint Broker

Tennyson Securities

Peter Krens


Tel: +44 (0) 20 7186 9030


Financial media and PR

Yellow Jersey

Sarah Hollins

Henry Wilkinson



Tel: +44 (0) 20 3004 9512



Notes to Editors


About Pires Investments plc


Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.


The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence ("AI"), Internet of Things ("IoT"), Cyber Security, Machine Learning, Augmented Reality and Virtual Reality ("AR/VR") and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.


For further information, visit: .






Caution regarding forward looking statements


Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.


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