
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Directorate Change
(
In response to the Requisition dated 4th
This Requisition has arisen at a time when the business is at a critical stage of its development with multiple complex negotiations and sales related work-streams ongoing and occurs only nine months after the IPO whilst the Company is still working in a globally unsettled environment. It is the view of the Directors that this Requisition is a very destabilising action and detrimental to the interests of all shareholders of the Company.
Accordingly, in order to limit any potential damage to the business, preserve the Company's limited cash resources and to bring stability during this period when the annual accounts are shortly due,
"Nicholas has helped provide stability to SulNOx during the Coronavirus pandemic whilst maintaining and developing our key business relationships. He oversaw the fund raise in May which enabled us to continue implementing our business plan throughout the global lock-down.
We can find no reason why the two Requisitioners would choose to take this action which would potentially damage the Company."
*Terms used in this announcement are defined in the announcement dated 4th
Enquiries:
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Media and Investors: |
020 7129 1474
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AQSE Corporate Adviser: |
020 3328 5656 |
The directors take responsibility for this announcement.
About
SulNOx, www.sulnoxgroup.com , has developed a hydrocarbon fuels conditioning and emulsifying process which enables more efficient fuel combustion, potentially leading to reduced fuel consumption and significantly lowered emissions.
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