Board changes & appointment of Clare Spottiswoode

Energetix Group plc

("Energetix" or "the Group")

Appointment of Clare Spottiswoode

& other Board changes

Energetix Group plc, (AIM: EGX), which develops and commercialises alternative and efficient energy products, announces the appointment of Clare Spottiswoode, CBE, as Non-Executive Chairman. The appointment will take effect following the completion of today's Annual General Meeting which is being held at 12 Noon.

Clare is a mathematician and economist by training and is currently a member of the Independent Commission on Banking. Clare's career includes her time as Director General of Ofgas, the UK gas regulator, and more recently as policyholder advocate for Norwich Union's with-profits policyholders at Aviva where she negotiated a special bonus worth approximately £2.1 billion to 1.1m of its with-profits policyholders as well as other payments. Clare has set up and managed her own businesses and has considerable experience in the energy sector. She is currently Chairman of Gas Strategies Group Limited, a Non-Executive Director of the FTSE 100 security company G4S plc, EnergySolutions Inc. and Illika plc, and until recently a Non-Executive Director of the FTSE 100 oil company Tullow Oil plc.

Following the appointment of Clare Spottiswoode, Alan Aubrey (currently Non-Executive Chairman) will become a Non-Executive Director. 

Rick Smith, Interim Chief Financial Officer of Energetix, will stand down from the Board following the AGM to focus on his duties as Chief Executive Officer of VPhase plc. VPhase plc is the energy efficiency business created by Energetix and subsequently spun out in 2010. Energetix owns a c.43% stake in VPhase which is now a standalone, independently funded commercial venture. The Board would like thank Rick for his commitment to Energetix over the past six years, and wish him well for the future.

Energetix will seek to appoint a new Chief Financial Officer in due course and in the meantime the current finance team, set up by Rick and in place since 2006, will meet the current demands of this role whilst a replacement is recruited.

Adrian Hutchings, Chief Executive Officer of Energetix, commented: "We are naturally very pleased to have attracted someone with Clare's calibre, expertise and knowledge of the markets which Energetix is addressing. Clare's appointment comes at a key time for Energetix which, with all technology development now completed, is moving into commercialisation. It is the huge potential of our products that attracted Clare and her main focus at Energetix will be to help us prepare and execute a commercialisation strategy that takes full advantage of this potential."

Commenting on her appointment, Clare Spottiswoode said: "I am very pleased to be joining the Board of Energetix as Non-Executive Chairman at this critical time of its development as it moves from technology innovator to a commercial sales organisation. I have been impressed by the products which have the potential to make a serious contribution to energy efficiency in the home and cost-effectively reduce customers' energy bills. I look forward to working with Adrian and his team to make sure that each of the products achieves the commercial success they deserve and help address many of the UK's energy problems at the same time."

For further information:

Additional Information

Clare Mary Joan Spottiswoode, aged 58, holds no shares in the Company and other than as set out below there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Ms Spottiswoode's appointment today as a Director of the Company.

Ms Spottiswoode is a director / partner or has been a director / partner of the following companies / partnerships during the previous five years:

Grant of share options

The Company has agreed that as soon as practicable after the appointment of Clare Spottiswoode she will be granted options over 1,954,650 ordinary shares of 5p each in the Company (equivalent to 3% of the Company's current issued share capital) at an exercise price of 21.25p per share. Of these, half the options (over 977,325 shares) may be exercised at any time (i) after six months following her appointment if at the time of exercise the mid market share price is 50p or more or (ii) after the Board has resolved there has been a major value creation event. The other half may be exercised at any time after the Board has resolved there has been a major value creation event. If the mid market share price has been 150 pence or more for a continuous period of at least 90 trading days this will deemed to be a major value creation event.

About Energetix Group plc

Energetix Group plc is a developer of cost-effective products to meet the growing global demand for alternative energy, with particular focus on distributed generation, energy storage, and energy efficiency. Currently Energetix has two subsidiary businesses:

·; Genlec - distributed generation in the home;

·; Pnu Power - compressed air back-up power;

as well as a c.43% stake in VPhase plc, an energy efficiency business Energetix created and subsequently spun out of Energetix in 2010. VPhase is now a standalone, independently funded commercial venture. Energetix's stake in VPhase was valued at £7.3m as at 31 December 2010.

With all technology development now completed Energetix is well funded to move into the commercialisation stage.

Genlec has developed a compact and light weight, wall mounted microCHP (Combined Heat and Power) appliance known as the Kingston Boiler. The appliance has been designed to generate 1kW of electrical power and meet the Microgeneration Certification Scheme (MCS) requirements to enable access to the Government's feed in tariff. The Kingston boiler is inherently low-cost in initial outlay and maintenance, and UK owners of approved microCHP products have the additional benefit of receiving a 10p/ kWh feed-in tariff on every kWh of electricity generated.

CE certification of the boiler has been obtained and initial units have been installed in employee homes. It is expected that CE certification of the power module will follow. Genlec will carry on field testing whilst continuing market engagement through multiple channel partners to continue commercial sales and establish a basis for growth from 2012.

Pnu Power focuses on the provision of compressed air back-up power which can ensure an uninterruptible power supply for critical systems, particularly for the telecoms and power network markets. Pnu Power range has been extended to include the DC100 product that can now meet the demand of the rapidly growing Green Data Centre market, providing a low carbon alternative to flywheels. Pnu Power has been successful in achieving repeat trial sales and is now poised to move out of the trial sales phase and into full volume commercial sales.

Energetix Group joined AIM in August 2006. The Group and its subsidiaries and associates are all based near Chester, NW England.