RNS Number : 7300B
D1 Oils Plc
02 November 2009
D1 Oils plc ("D1 Oils" or "the Company")
Appointment to the Board of Directors
D1 Oils plc today announces a new appointment to the Board of Directors.
The Company's Preliminary Results announcement on 8th September disclosed the plan to restructure to create three business groups:
· an Operations group to deliver value from existing planting interests
· a Science & Technology group to deliver our research and development programme; and
· a Business Development group to attract third party revenues by marketing our planting know-how and
This reorganisation, with its associated cost savings, is now substantially complete.
As part of this reorganisation, Martin Jarvis, formerly Chief Operating Officer and then CEO of D1-BP Fuel Crops, will lead the Operations Group, as Operations Director.
Reflecting the critical role of this business group in delivering value for shareholders in both the near and long term, Martin also joins the main board of the company.
Martin's earlier career includes 23 years at Unilever in a range of international manufacturing and supply chain management roles, including Global Supply Chain VP, with responsibilities throughout Asia, Africa and Europe.
Commenting on the appointment, Ben Good said:
"I am delighted that Martin has agreed to join the Board of the Company. Martin's wealth of experience, his focus on operational delivery and the belief in D1's potential that he has demonstrated over the last eighteen months, make him a key member of the team, as we work towards the delivery of shareholder value in the coming months and years."
In accordance with schedule 2(g) of the AIM Rules, the following information is provided
Martin John Jarvis, aged 46 is currently a director of D1 Oils Fuel Crops Limited, Middlesbrough Oils UK Limited, Fuel Crops Limited, D1 Williamson Magor Bio Fuels Limited, D1-BP Fuel Crops South Africa (Pty) Limited, D1-BP Fuel Crops India Private Limited, D1-BP Fuel Crops Asia Pacific Pte Limited, D1-BP Fuel Crops Zambia Limited, PT D1 Oils Indonesia Limited, D1-BP Fuel Crops Philippines, Inc, D1-BP Fuel Crops (Thailand) Co Limited and Integrated Business Planning Limited
Martin Jarvis holds 412,500 options in the Company.
There are no further disclosures to be made pursuant to Rule 17 and Schedule 2 - paragraph (g) of the AIM Rules for companies in relation to Martin Jarvis.
Ben Good, Chief Executive Officer
Tel: +44 (0) 20 7367 5600
Kevin Byram / Camilla Gore
Tel: +44 (0) 20 7404 5959
Michael Covington / William Carnwath (Qualified Executive)
Tel: +44 (0) 20 3142 8700
Notes to Editors:
D1 Oils plc is an alternative energy crop company. We are pioneering the development of Jatropha curcas, a robust, tropical oilseed bearing tree, into a new sustainable energy crop that has the potential to replace food crops as a source of biodiesel. Jatropha is a hardy crop that is able to grow on a wide range of soils, including soils which are sub-optimal for arable agriculture. Its grain is crushed to produce inedible oil for biodiesel and meal that has the potential to be processed into a high-value, protein source for animal feed. We have an established plant science and planting programme for Jatropha, and we provide commercial technology and services to the emerging Jatropha sector, including the breeding and selection of Jatropha seeds and seedlings, the development of planting practices and husbandry methods, and the harvesting and processing of Jatropha oil and meal.
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