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TAQA announces Board of Directors election

ABU DHABI, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA), a leading global energy company headquartered in Abu Dhabi with operations in 11 countries worldwide, today announced the election of its Board of Directors following the completion of the previous Board’s three-year term.The previous Board of Directors has overseen the completion of a two-year Transformation Programme, delivering cumulative savings of AED 13.2 billion and a capital expenditure reduction of AED 8.6 billion from 2014 to 2016.A majority of TAQA’s shareholders exercised their voting rights during the Annual General Meeting held in Abu Dhabi today. The following seven persons were elected as Directors of the Company for a term of three years:      TAQA Board Member since 2011     New Board Member     TAQA Board Member since 2011     New Board Member      TAQA Board Member since 2011     New Board Member     TAQA Board Member since 2014 Following the election, the new Board elected Saeed Mubarak Al Hajeri to serve as Chairman of the Board and Khalifa Ali Al Qemzi as Vice-Chairman.Commenting on the appointments, Saeed Mubarak Al Hajeri, Chairman said: “I am honoured to serve as Chairman of the Board of Directors of TAQA for another term. With the support of a highly experienced board, with technical expertise in Utilities, Oil & Gas and Financial and Investment Management, we will continue to drive shareholder value in partnership with executive management by supporting future growth.I would like to thank the outgoing board members who have served TAQA and its shareholders during a significant period of transition and welcome the three new board members who will continue their efforts to deliver an ongoing contribution to Abu Dhabi.”   – ENDS –