The Pearl Global Limited [ASX:PG1] share price has been steadily climbing over the last five days. It peaked on Thursday last week at $0.22, only to close at $0.21 on Friday, down 2.33%
Pearl is a company that converts tyres into valuable secondary products, with Australia’s first and only environmental approvals for the thermal treatment of rubber.
Pearl Global Limited appoints new Non-Executive director
In an announcement PG1 confirmed that Mr Michael Barrett has been appointed non-executive director of Pearl Global Limited, effective today, 6 August 2018.
Pearl global chairman, Gary Foster commented on the appointment:
‘We are delighted to welcome Mr Barrett as an independent Non- Executive Director. In addition to providing valuable contribution to the board’s leadership of pearl’s growth and development, Mr Barrett will play a key role in reviewing aspects of our business such as corporate structure, governance and commercial strategy. On behalf of shareholder, welcome Michael to our board.’
Mr Barrett is also working with the board to move Pearl’s business to 24-hour operations.
Although it’s too early to see the benefits of Mr. Barrett’s appointment, the move to 24-hour operations could see a share price increase in the near future.
Despite its slow increase last week, the company’s share price has been gradually falling since the start of the year.
What’s next for Pearl Global?
PG1 is currently commissioning its first commercial-scale production plant in Staplyton, Queensland. This will underpin plans to showcase Pearl Global’s technology to interested local and international parties, as well as showing its cash flow potential.
This, combined with the appointment of Mr Barrett, could be the shakeup that PG1 needs in order to see some positive effects for its share price.
For Money Morning
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