Board Changes

18 January 2024

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

Eco Buildings Group plc

(the "Company" or the "Group")

Board Changes

Eco Buildings Group plc (the "Company" or the "Group") is pleased to announce the following board changes that the Board believes marks a new chapter in its journey towards sustainable growth and success.

Board Change - Retirement of Andrew Allner

Andrew Allner served as Chairman of Fox Marble Holdings PLC for over 12 years and continued as Chairman of Eco Buildings Group PLC following the RTO. He now feels, following the completion of the RTO, the relocation of the Company's factory from Dubai to Durres, and the successful production of our first wall that now is the time for him to retire. He has played a pivotal role in leading the Board and Company through a transformative period and the Company extends its gratitude for his invaluable contribution throughout his tenure.

Appointment of Don Nicolson as Chair with Handover Period

Eco Buildings is pleased to announce that Don Nicolson has been appointed to take on the role of non-Executive Chairman. Don is a senior business leader with 40 years experience in a range of sectors, both in the UK and internationally. He has held multiple executive and non-executive roles in both publicly listed and private companies. Don spent 26 years at BP, where senior roles included Director North Sea and Chief of Staff to BP's E&P CEO. Other notable roles include, Chairman and interim CEO for Spain's Levantina Natural Stone Company, E&P Advisory Board member for SSE plc and Independent non-Executive Director for Scirocco Energy plc. Don is currently Non-Executive Chairman of Zenova Group plc.

To ensure a smooth transition, a handover period will take place until the end of February,  during which Andrew and Don will collaborate closely to transfer responsibilities and knowledge.

Dismissal of Dominic Redfern

The Company confirms the immediate dismissal of Dominic Redfern, Executive Vice Chairman, for cause. This decision aligns with our commitment to upholding the highest standards of conduct within our organisation.

Confidence in Future Growth

As we bid farewell to Andrew Allner, we express our heartfelt thanks for his significant contributions to the Group over the last twelve years. Don Nicolson, with his wealth of operational experience, steps in to steer Eco Buildings, as we transition into full production at the new Durres factory. We remain confident in our trajectory in the modular housing sector, and a positive future for Eco Buildings Group PLC.

Outgoing Chairman Andrew Allner, "I have very much enjoyed my time at Fox Marble and at Eco Buildings. We have faced a number of challenges over the years and whilst business has not been easy Fox Marble is now showing signs of stabilisation. I believe that the modular building sector will see significant future growth and opportunity across the world and that Eco Buildings is well positioned to take advantage of these trends and create value for shareholders. I am very pleased that Don Nicolson, with his extensive business experience, is taking over from me and I wish him and the Company the best of luck."

Don Nicolson, incoming Non-Executive Chairman at Eco Buildings, "I have been familiar with Eco Buildings since well before the RTO, I'm honoured to lead the Company through its next developmental strides. Leveraging the substantial order book, we aim to accelerate growth, which is a key strategic focus for the Company. I extend my gratitude to Andrew for steering the Company to this stage, allowing me to guide the Company on delivering orders in Albania and expanding into new markets. "

Sanjay Bowry, CEO of Eco Buildings, states, "I express my sincere gratitude to Andrew for his invaluable advice, instrumental in propelling Eco Buildings to this critical pre-full-production stage. I warmly welcome Don to our Board, anticipating a collaborative effort to tap into tremendous growth opportunities for eco-friendly, modular housing on a global scale. Together, with Don's wealth of strategic, commercial and operational experience, we are poised for substantial success, making this news exciting for all our stakeholders."

For more information on Eco Buildings, please visit

 www.eco-buildingsplc.com or contact:

Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer  
Fiona Hadfield, Finance Director  
Tel: +44 (0)20 7380 0999  

Nominated Adviser: Spark Advisory Partners Limited
Matt Davis / James Keeshan  
Tel: +44 (0)20 3368 3550  

Broker: Tavira Financial Limited
Oliver Stansfield / Jonathan Evans  
Tel: +44 (0)20 3192 1739  

AIM Rules Schedule 2(g) disclosures

The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with the appointment of Donald Oag Nicolson, aged 63, to the Board of the Company.

There are no further disclosures required in accordance with Rule 17 or Schedule 2(g) of the AIM Rules.