Green & Smart Holdings plc Directorate Change (7810B)
September 25 2018 - 2:02AM
UK Regulatory
TIDMGSH
RNS Number : 7810B
Green & Smart Holdings plc
25 September 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
25 September 2018
Green & Smart Holdings plc
("Green & Smart" or "the Company")
Directorate Change
Green & Smart Holdings plc (AIM: GSH), a renewable energy
company generating power from biogas captured through the treatment
of palm oil mill effluent ("POME") in Malaysia, announces the
appointment of Mr. Syed Nazim bin Syed Faisal as Finance Director
and an Executive Director of the Company with immediate effect. Mr.
Nazim is being appointed pursuant to the Company's subscription
agreement with Serba Dinamik International Ltd ("SDIL"), as
announced on 19 July 2018, whereby SDIL is entitled to appoint one
Executive Director to the Company's Board of Directors for as long
as SDIL holds at least 15% of the Company's issued share
capital.
Mr. Nazim, aged 37, has over 14 years' experience in the
accounting and banking sectors. Currently, he is Group Chief
Financial Officer of Serba Dinamik Holdings Berhad, a
Malaysia-based investment holding company that manages the Serba
Dinamik group of international energy services companies, including
SDIL. Prior to joining Serba Dinamik, he held positions at Ibdar
Bank, RHB Islamic Bank and KPMG.
The Board of Green & Smart is mindful of its expenses and
has been evaluating measures to implement cost efficiencies. To
this end, the Directors have resolved to reduce the annual fee
payable to Directors by 60% commencing from the current financial
year and to reduce the size of the Board.
Mr. Sivadas Kumar, Executive Director and Chief Financial
Officer, and Dato' Dr. Sivamohan S Namasivayam, Non-executive
Director, have volunteered to not stand for re-election at the
Company's forthcoming Annual General Meeting ("AGM"), which is due
to be held in October 2018. As a result, Mr. Kumar and Dato' Dr.
Namasivayam will stand down from the Board at the conclusion of the
AGM. Mr. Kumar will remain in his position as Chief Financial
Officer of the Company, working alongside Mr. Nazim.
Datuk Haji Radzali Bin Hassan, Non-Executive Chairman, said: "On
behalf of the Board, I would like to welcome Syed Nazim to Green
& Smart. He brings a wealth of experience from leading
financial institutions in Malaysia as well as the energy sector. We
look forward to working with him and benefiting from his know-how
as we focus on the growth of our company. I would also like to
thank Sivadas and Sivamohan for their valuable contribution to the
Board and our appreciation for their willingness to stand down at
this juncture to facilitate our cost reduction efforts."
Regulatory disclosures:
Syed Nazim Bin Syed Faisal is a director or partner of the
following companies or partnerships:
Current Directorships/Partnerships
CSE Global Limited
Fahrenheit Café Sdn Bhd
NAK Ventures Sdn Bhd
BIRR Capital Limited
PT Amorsk Indonesia
Serba Dinamik Holdings Berhad
Save as disclosed above, there is no further information
required to be disclosed in respect of Syed Nazim pursuant to
Schedule Two, paragraph (g) of the AIM Rules for Companies.
Enquiries
Green & Smart Holdings plc
Saravanan Rasaratnam, Chief Executive Officer
Navindran Balakrishnan, Chief Operations Officer +44 20 7618 9100
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)
Phil Davies, Richard Salmond +44 20 7894 7000
Luther Pendragon Ltd
Claire Norbury, Alexis Gore +44 20 7618 9100
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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