board of directors, management and advisors

Claudio Morandi, Director

Claudio Morandi is a highly qualified company director, and experienced company restructuring and development specialist. He has enjoyed a long and rewarding career in the financial services industry predominantly based in Switzerland while working with merchant and investment banks and corporations based in North America and throughout Europe.

In 2008, he established Valreco AG, based in Zug, Switzerland, a financial services and investment company specialising in direct investments in public and private corporations, corporate finance, restructuring and mergers and acquisitions. As the founder and Managing Director of Valreco, he has been involved in a number of notable transactions, including the restructuring of one of Europe’s largest hedge funds and the reorganisation of distressed investments for a private German corporation in the biodiesel industry.

Previously, as an Investment Manager of Mercer International Inc., he was instrumental in the acquisition of a number of German industrial companies. During his tenure with Mercer, the company’s net assets grew by acquisitions and restructurings fivefold. Subsequently, as the Senior Vice President of Investment Banking at MFC Bancorp, a successor company to Mercer, he initiated and co-managed several transactions including the acquisition and integration of Bank Rinderknecht AG.

Claudio has graduated as Certified Banker & Merchant at the KV Business School of Zurich, Switzerland in 1982. After having passed basic military services, he gained his Diplomas in National and Business Economics in Zurich. He is fluent in German, English and French and speaks some Italian. Claudio is a resident of Winterthur, Switzerland.

Andrew Holland, Director

Andrew Holland is a qualified and highly experienced accounting, audit and wealth manager who operates his own company – Ivory Wealth Management – from his offices in Cape Town, South Africa where he resides with his family.

He commenced his career in the financial services industry at Arthur Andersen in the Audit & Business Advisory Department and went from there to Investec where he held the position of Associate Investment Director responsible for developing funds under management and discretionary portfolio management. Subsequently, as an Investment Director, he joined Truestone Capital (Mauritius), a niche investment management and advisory firm which provided financial advice and investment management to High Net Worth Clients in the UK.

Prior to relocating to South Africa in 2014 he held the position of Senior Private Banker at Kleinwort Benson, now Kleinwort Hambros, a long established and large international private and investment bank where he was responsible for the development of investment and taxation strategies for clients as well as the ongoing management and monitoring of portfolios.

He currently holds the position of Managing Director & Chief Investment Officer for Ivory Wealth Management, a fully regulated privately owned Financial Services Business in multiple jurisdictions providing Private Client Investment Management and Financial Advisory services to an international spectrum of high net worth clients.

Andrew will assist and advise Pineapple Power Corporation and its Board of Directors in the management of corporate development, investment banking, investor and financial relations and funding sources in the Southern African financial centres, predominantly Cape Town and Johannesburg.

Clive de Larrabeiti, Advisor, Corporate Finance

Clive de Larrabeiti has over 30 years of experience in the financial industry and public equity markets, both in Europe and North America. He began his career in the financial industry as a stockbroker in Canada and was subsequently based in London, England, where he successfully founded and established the UK branch office of a Canadian-based international investment banking boutique.

Subsequent to this, he has served as a senior officer, director and corporate finance advisor to several North American and European public companies and has also consulted and advised a number of North American and European private and public companies in corporate communications, investor relations, financial, corporate and project management.

He is the founder and major shareholder of Pineapple Power Corporation PLC.

Richard Offer, Advisor, Corporate Finance

Richard has both corporate finance and equity capital market experience throughout the Asia Pacific, with over 30 years’ experience in financial markets. Over the past 12 years at Aetas Global Markets Richard has focused on identifying companies in need of assistance through the provision of capital, but also advice through the various development phases, to allow the Board and Management to achieve their strategic and corporate goals.

Richard has worked with numerous board and management teams to identify the optimal financial structure for their company to achieve its strategic objectives.

His previous roles include Head of Regional Sales/ECM for both HSBC and Dresdner Kleinwort Benson where he played a pivotal role in their Asian businesses as a member of their ‘Executive Committee’.

Richard’s career started in London with De Zoete & Bevan, one of the City of London’s largest stockbrokers. Following the merger with Barclays, Richard transitioned to BZW Investment Management where he gained his experience in portfolio management where for 10 years he focused on Asian markets. Richard is a ‘Fellow of the Security Institute’ in the UK.

formation criteria

It has been the Board of Directors’ experience that many corporations appreciate the velocity with which a listing on a stock market may be achieved through a reverse takeover of an original, clean, cash rich shell versus a fresh application to list their company or through a merger with an older company, which may have historic operating problems and tenacious existing Board members.

Pineapple Power Corporation has been formulated with a clear vision of the processes involved in an envisaged RTO. Due to the extensive experience of the Board of Directors and Advisors assembled for the purpose, the Company expects that this vision will result in a successful transaction occurring in the shortest possible space of time. This might result in an increase in asset value expected through the acquisition of an operating company generating revenues or holding significant assets.

It is the Board’s intention that following completion of an Acquisition, the objective of the Company will then be to operate the acquired business and implement an operating strategy with a view to generating additional value for its Shareholders through operational improvements and potentially through additional complementary acquisitions.

company structure and formation

The Board have structured the company as an acquisition vehicle and have made application to the UK Listings Authority and the London Stock Exchange for a Standard Listing.

In addition to the founders’ seed investments and funds raised through close associates, which will meet the anticipated initial costs associated with the application to the UK listings authority, the Company intends to issue additional Ordinary Shares in an Initial Public Offering and apply for these shares to be admitted to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and trading on the London Stock Exchange’s main market for listed securities.