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AFC Energy Plc  -  AFC   

Directorate Change

Released 07:00 10-Jan-2013

RNS Number : 2201V
AFC Energy Plc
10 January 2013

10 January 2013

AFC Energy PLC

("AFC Energy" or the "Company")


Appointment of Directors


AFC Energy announces the appointment to the board, effective immediately, of Eugene Shvidler and Eugene Alexander Tenenbaum, as non-executive directors of the Company. The appointments are made following the investment into the Company by Ervington Investments Ltd, announced on 11 October 2012.


Mr Shvidler worked at Russian oil major OAO Sibneft from 1996 through 2005, initially as senior vice president and, from 1998, as president of the company. Mr Shvidler is a graduate of the I. M. Gubkin Moscow Institute of Oil and Gas with a Masters in applied mathematics and he received an MBA and Masters in International Taxation from Fordham University in New York. He is currently non-executive Chairman of Highland Gold Mining Ltd, an AIM-quoted company, and is a member of the Board of Evraz plc, a FTSE 100-listed company.


Mr Tenenbaum served as head of corporate finance for OAO Sibneft in Moscow from 1998 through 2001. In 1994, he joined Salomon Brothers where he worked until 1998. Prior to that, he spent five years in corporate finance with KPMG in Toronto, Moscow and London. He was an auditor at Price Waterhouse in Toronto from 1987 until 1989. Mr Tenenbaum is a chartered accountant and holds a bachelors degree in commerce and finance from the University of Toronto. He has numerous other directorships; notably, he is a member of the boards of Chelsea FC plc, Evraz plc (a FTSE 100-listed company) and Highland Gold Mining Ltd (an AIM-quoted company).


In accordance with rule 17 of the AIM Rules for Companies, the following information falls to be disclosed:


Eugene Shvidler (aged 48) is currently a partner of MC Peat & Co LLP and a director of:

Evraz plc

Highland Gold Mining Ltd

Millhouse LLC

Regional Mining Company LLC 


Within the last five years Mr Shvidler has been a director of Evraz Group S.A.


Eugene Alexander Tenenbaum (previously Evgeny Alexander Borsuk)  (aged 48) is currently a director of:

Briskspring Limited

Chelsea FC plc

Chelsea Football Club Ltd

Evraz plc

Fordstam Ltd

Highland Gold Mining Ltd

Looklight Ltd

Lowndes Square Management Company Ltd

MHC (Services) Ltd

Stamford Bridge Projects Ltd


Within the last five years Mr Tenenbaum has been a director of Evraz Group S.A.


For further information, please contact:


AFC Energy plc

Ian Williamson, Chief Executive

Ian Balchin, Deputy Chairman


+44 (0)1483 276726


Luther Pendragon - Public Relations Adviser

Neil Thapar

Alexis Gore

Dan Wilson Craw


+44 (0)20 7618 9100


Peat & Co. - Corporate Broker

Charlie Peat


+44 (0)20 7104 2334


Allenby Capital - Nominated Adviser

Jeremy Porter

James Reeve


+44 (0)20 3328 5656



About AFC Energy

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using modern materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website:


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Directorate Change - RNS