The PPK Group Limited (ASX: PPK) share price is gaining traction in mid-morning trade after hitting an all-time high. The surge in the boron nitride nanotubes (BNNT) producer's shares comes after the company announced two new appointments through its partly-owned subsidiary.
Boron nitride nanotubes are used in parts for high-temperature equipment such as underground vehicles and mining equipment.
During market open, PPK shares reached a record high of $7.43. However, after some profit-taking, the company's shares have slightly lowered to $7.38, up 1.1%.
New appointments
Investors are pushing PPK shares into new territory today after digesting the company's latest update.
According to this morning's release, PPK advised that its subsidiary, Li-S Energy Limited, has appointed a non-executive director and CEO.
PPK holds a 48.5% interest in Li-S Energy, which aims to revolutionise high-performance lithium sulphur battery technology.
The new addition of Ms. Hedy Cray as a non-executive director will see her bring significant experience to the board. Ms. Cray has an extensive background in industrial and employment law, equal opportunity, and workplace health and safety issues. Currently, she is a partner with Australian top-tier law firm, Clayton Utz, and is in charge of the Brisbane Workplace Relations Employment and Safety practice.
Hedy Cray also has experience in commercial and corporate strategy, risk management, corporate governance, acquisitions, company restructuring other fields.
Furthermore, Dr. Lee Finniear will head up the role of CEO for Li-S Energy. Finniear has more than 25 years of experience as a senior executive within the industry. This also includes 5 years at the helm as CEO and managing director of a NASDAQ and ASX-listed company.
Dr. Finniear is recognised for delivering innovative IoT products to business and consumer markets. He served as vice president for an Asian Pacific telecommunications operator focused on automotive manufacturers and enterprise IoT solutions.
PPK executive chair, Robin Levison welcomed the new inclusions, saying:
I am very pleased with both appointments as Hedy brings Li-S Energy very broad commercial and corporate experience while Lee is a proven Chief Executive Officer with talent and qualifications well suited to growing the Li-S Energy business.
About the PPK share price
The PPK share price has increased over the last year, moving around 135% higher for shareholders. Year-to-date performance currently stands at a gain of around 26%.
PPK has a market capitalisation of roughly $650 million, with just a tad over 89 million shares on issue.
