ADM Energy PLC (LON:ADME) (FSE:P4JC), a natural resources investing company, saw its shares gain on Wednesday after it announced the appointment of influential German industry investor Dr Stefan Liebing to its board as a non-executive director with immediate effect.
Liebing is the chairman of Afrika-Verein der deutschen Wirtschaft e.V., the prestigious German-African Business Association, where, as part of his role, he advises the German Government on investment in Africa. He chaired the G20 Compact with Africa investment summits in 2018 and 2019, held under the patronage of Chancellor Angela Merkel.
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He is the CEO of Conjuncta GmbH, a boutique investment and project development company. Previously, Liebing was a director of International Gas Business at EnBW Energie Baden-Wuerttemberg AG, one of the largest energy supply companies in Europe, and earlier in his career held various senior positions at Royal Dutch Shell.
The group also said that current non-executive director, Sergio Lopez, is stepping down from the board to pursue other business interests.
Peter Francis, Non-executive Chairman of ADM, said: "It is a great pleasure to welcome Dr Liebing to ADM Energy. We are assembling a Board and management team with the expertise and calibre to match the ambition of the Company. ADM is entering a busy period as it plans to close deals and expand its investments in projects across Nigeria and West Africa. The addition of Stefan, who has chaired global economic and investment forums, will prove invaluable as we grow the Company.
"On behalf of the Board we would like to extend our thanks to Sergio for his valuable contribution to ADM over the years and we wish him well in the future.”
Liebing commented: "ADM Energy has a driven team with a clear strategy and impressive plans to grow the business. With its focus in West Africa and recent listing in Germany, my experience of the industry and investment in Africa, as well as my contacts within the German investment community, complements the rest of the team and I look forward to helping ADM grow."
In morning trading, ADM Energy shares were 9.3% higher at 4.7p.
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