Cleantech Building Materials plc: Appointment of Director

18 September 2019

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN

TICKER: CBM

Cleantech Building Materials plc

Appointment of Director

Cleantech Building Materials plc (“CBM” or the “Company”), is pleased to announce the appointment of Mr Simon Allocca to the Company’s Board of Directors (the “Board”) as a Non-executive Director with immediate effect.

Mr Allocca’s appointment follows the recent announcements regarding the Company’s plan to construct the first Accoya^® wood factory in China with Nantong Acetic Acid Chemical Co. Ltd (“Nantong”), an international Chinese chemical group, and the signing of a subscription agreement for €15,000,000 with a private family office to finance its share of the project financing.

Mr Allocca has 30 years’ experience in banking, spanning capital markets, corporate coverage, risk and investment banking business. From 2011 to 2019 he was the Managing Director of Industrials and Transportation at Lloyds Banking Group. Prior to that he was Global Head of Lloyds’ Loan Markets and Infrastructure Finance, and he chaired, and was a member of, various risk and governance committees for Lloyds’ Commercial Bank Division.  He previously held senior roles at BNP Paribas Corporate and Investment Banking based in the UK.

Paul Richards, Chairman of CBM, said: “We are delighted to announce the appointment of Simon Allocca to the CBM Board. Simon brings significant industry expertise and experience to the team which will be invaluable as we progress the planned construction of the first Accoya^® wood factory in China.”