Long-term energy storage firm Corre Energy is to hold an extraordinary general meeting in just over a week's time to elect a new board of directors.
The move to hold an EGM on October 7 in Amsterdam follows the agreement of a €5m loan facility with a group of existing shareholders and the resignation of its interim chairman at the end of last month.
Part of the loan agreement was contingent on the approval of an interim board.
The new board will include representatives of those shareholders who supplied the funding.
Brendan Boyd will represent Stream Street Limited and Stephen Carolan will sit on behalf of Pageant Investments Limited.
Gemma Monaghan will join to represent Air Corre Limited and there will also be an independent director, George Fraser, who the new board intends to designate as chair.
The company said it intends to appoint further independent non-executive directors in the coming weeks.
It said that it is also considering the appointment of an additional executive director alongside the existing executive director, Keith McGrane.
The firm said the proposed appointments will enhance governance, strategy and operations with a focus on maximising shareholder value.
Corre Energy, which is involved in the development of underground energy storage in Europe, will publish its half year results on September 30.
