13th Oct 2020 11:23
(Alliance News) - African power development company Ncondezi Energy Ltd on Tuesday announced Scott Fletcher as a non-executive director, pending regulatory checks.
Fletcher is the largest shareholder of the company, holding 16% of its shares from market purchases and participation in fund raises. He is an entrepreneur, having founded cloud services provider ANS Group when he was 22 years old.
Ncondezi Chief Executive Hanno Pengilly said: "We are delighted that Scott has agreed to join the board. As our largest shareholder, his input from an investor point of view will be invaluable as we continue to advance our Ncondezi power project.
"Over the course of the next 6 months, the company anticipates meeting a number of transformational milestones as we move the project towards financial close. Scott was previously the North West Entrepreneur of the Year, experience that we believe will also assist us as we advance our commercial & industrial strategy and develop a revenue stream whilst progressing the Ncondezi power project."
Ncondezi shares were up 14% at 3.60 pence each on Tuesday morning in London, giving the company a market capitalisation of GBP12.6 million.
By Greg Roxburgh; [email protected]
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