Board update

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 ("MAR").

21 October 2019

PLUTUS POWERGEN PLC

("Plutus", the "Group" or the "Company")

Board update

The Company announces that it has received from its Chief Operating Officer and Executive Director, Paul Lazarevic, a notice alleging that the Company has breached the terms of his director service agreement and/or consultancy agreement with the Company. The Board (other than Mr Lazarevic) strongly believes that no such breach has occurred.

In an email to the Board on 18 October 2019 Mr Lazarevic stated that he considers that he has ceased to be a director of Plutus with immediate effect. Furthermore, Mr Lazarevic has requested that the Company informs Companies House of his ceasing to be a director. Finally, Mr Lazarevic notified the Board that he has informed Rockpool Investments, the directors of the Company's SPVs and the main suppliers/contractors of the Company (including the Company's nominated adviser) that he has ceased to be a director of the Company.

Mr Lazarevic's director's service contract and consultancy agreement require that he gives the Company 6 months prior written notice of termination. The Company has received no such notice.

The Company is taking advice as to what steps it may take (including taking legal action) against Mr Lazarevic to protect the interests of the Company and its shareholders.

The Company will make further announcements in due course.

**ENDS**

 For further information, please visit www.plutuspowergen.com, or contact: