Directorate changes and appointment of Auditor
Proton Power Systems plc (“Proton” or the “Company”)
Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces the following changes of Director Responsibilities, effective from 20 December 2017:
Achim Loecher has resigned as Chairman and Company Secretary to pursue new challenges outside the Proton Group.
Helmut Gierse, a Non-Executive Director of the Company, is appointed as Chairman with immediate effect.
In addition to his Group Finance Director role, Roman Kotlarzewski will take on the function of Company Secretary.
Furthermore the Board of Proton today announces that it has appointed RMT Accountants & Business Advisors Ltd as its auditor following a comprehensive tender process.
Commenting on the changes, Dr. Nahab, CEO of Proton, said:
“The Board of Proton would like to thank Achim for his contributions to the Company.”
“We are pleased that Helmut Gierse agreed to take on the role of Chairman. His deep and relevant industry experience in various leadership roles has already proven to be very valuable to the Board.”
Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that it has issued 176,396 ordinary shares of 1 pence each in the Company (the „New Ordinary Shares“) to Non-Executive Director Achim Loecher, in lieu of fees.
Proton Power Systems plc (AIM:PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, now publishes its Annual Report for the year 2016.
Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, today announces the appointment of BHF Bank Frankfurt to seek additional international industrial investors for the Company.
Proton Power has made further progress in the period with delivery of commercial contracts in proven technology, strategic co-operations and building the sales pipeline for an increase in the order book. Further investment in the manufacturing capability has put the company in a very strong strategic position to capitalise in the marketplace and to deliver financial performance. Proton Power has strengthened its organisation to be able to deliver complete power supply solutions. Proton Power adds value to clients through fuel cell expertise and system solution and know-how.
Ian Peden, Chairman of Proton Power, commented: “the Company is seeking partners with international sales reach and experience in large scale manufacturing to take the Company to the next stage, satisfying the large demand for hydrogen fuel cells.
The idea is that the strategic partner and shareholder would be able to assist Proton Power with the scale-up required to satisfy the envisaged demand. Now is the right time to find additional investors and partners as the market demand is growing fast and Proton Power is taking the business to the next level. Proton Power, with the help of BHF Bank, is presently in discussions with many different corporations in Germany, Europe, China and USA.”
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