Client News
Advance Energy plc: Board Changes, Cost Reduction and Refocused StrategyAdvance Energy (AIM:ADV), the energy company seeking growth through acquisition or farm-in to discovered upstream projects, provides the following corporate update:
Key Points:
· The Board has implemented measures to reduce the Company’s cost base by over 50%
· CEO Leslie Peterkin to leave the Company to support cost cutting measures
· Larry Bottomley to assume Interim CEO role to drive new ventures
· The Company remains fully funded for the current calendar year with no debt
· The Board has refocused the strategy for the Company and is actively progressing a pipeline of value accretive opportunities within this new strategy
https://www.londonstockexchange.com/news-article/ADV/board-changes-and-corporate-update/15305731
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