Andalas Energy and Power Plc is pleased to announce the launch of its new corporate website (http://www.andalasenergy.co.uk/).
The new website marks the culmination of the Company’s wider rebranding exercise which has been undertaken in recent months. This reflects the progress made by the new management team towards transforming ADL into an Indonesian focused energy and power company, as demonstrated by the securing of its first asset in Indonesia via the farm-in agreement to earn a 30% interest in the Tuba Obi East concession in the South Sumatran basin, as announced on 8 March 2016. Management views TOE as an excellent foundation asset upon which to build a profitable Indonesian gas and power business. The rebranding and repositioning has included:
- New Board and senior management appointments including highly experienced non-executive Chairman, Mr Paul Warwick, and Finance Director, Mr Dan Jorgensen and other senior in country appointments;
- Combined, the management team has over 250 years of industry experience and has in excess of half a century of direct experience in Indonesia;
- The appointment of Cantor Fitzgerald Europe as Nomad and broker to advise on the Company’s readmission to AIM and support its longer term ambitions to become a major player in the Indonesian energy and power sector; and
- A fresh new logo and change of name to Andalas Energy and Power, which is the ancient name for Sumatra and more fully captures the Company’s aspirations in the country.
The Directors, in tandem with their advisers, are currently focused on the readmission of the Company’s shares to AIM and further updates on this process will be provided to the market in due course.
For further information, please contact:
|David Whitby||Andalas Energy and Power Plc||Tel: +62 21 2783 2316|
|Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
|Tel: +44 20 7894 7000|
|Peterhouse Corporate Finance
Limited (Joint Broker)
|Tel: +44 20 7469 0930|
|Colin Rowbury||Cornhill Capital (Joint Broker)||Tel: +44 20 7710 9610|