Turbo Power Systems Inc Directorate Change (1338J)

TIDMTPS

RNS Number : 1338J

Turbo Power Systems Inc

07 September 2016

Turbo Power Systems Inc

("TPS" or the "Company")

Board Appointments

TPS, the innovative high-speed electrical machines and power electronic systems provider, announces the appointment of Mr Rodrigo Lauria de Castro Loureiro (Mr Rodrigo Lauria) and Ms Livia Velloso De Oliveira Castro (Ms Livia Castro) as non-executive directors of the Company, effective immediately. Mr Lauria and Ms Castro are representatives of Vale S.A. ("Vale"), the Brazilian mining company and the ultimate controlling shareholder of TAO Sustainable Power Solutions (UK) Limited (89.4% shareholder in the Company).

Mr Lauria, aged 37, currently serves as a Corporate Areas Performance Manager of Vale, covering strategic planning, budgeting, internal control systems and business improvements, having worked for Vale since 2003. Mr Lauria has 17 years' professional experience in management of economic, financial and asset performance areas, specialising in cost and performance management.

Ms Castro, aged 49, is currently a Corporate Finance Manager of Vale, and has served in a number of finance focused roles within Vale. Ms Castro has 27 years' experience in corporate finance, trade finance, foreign exchange transactions, and international debt and equity capital markets. Prior to joining Vale in 2005, Ms Castro held positions within a number of Brazilian companies and financial institution.

Following the above appointments, the board of directors of the Company will comprise of: four non-executive directors, being Mr Fernando Senhora (Chairman), Mr Rodrigo Lauria, Ms Livia Castro, and Mr Ric Piper.

Further information

Neither Mr Lauria nor Ms Castro have an interest in the share capital of the Company.

Mr Lauria, is currently a director of Associacao Museu Ferroviario Vale do Rio Doce (a non-profit organisation related to Vale). Mr Lauria has not held any other directorships or partnerships in the past five years.

Ms Castro is currently a member of the board of director of Biopalma da Amazônia S.A., and director of Docepar S.A. (both wholly owned subsidiaries of Vale registered in Brazil) and Vale Overseas Limited (a wholly owned subsidiary of Vale registered in the Cayman Islands). Ms Castro was also a director of Vale Pecem S.A. (a wholly owned subsidiary of Vale) in 2014.

There are no further details in relation to the above appointments which require disclosure pursuant to Rule 17 or under paragraph (g) of Schedule 2 of the AIM Rules for Companies.

For further information, please contact:

 
 Turbo Power Systems                  Tel: +44 (0)191 
  Carlos Neves, Chief Executive        482 9200 
  Officer 
  Charles Rendell, Chief Financial 
  Officer 
 
 finnCap (NOMAD and broker)           Tel: +44 (0)20 
  Ed Frisby, Emily Watts               7220 0500 
 
 Kreab (financial public relations)   Tel: +44 (0)20 
  Robert Speed                         7074 1800 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 07, 2016 02:01 ET (06:01 GMT)