Columbus Energy Resources PLC Directorate Change, Appointment of CFO (1240I)
15 June 2017 - 4:01PM
UK Regulatory
TIDMCERP
RNS Number : 1240I
Columbus Energy Resources PLC
15 June 2017
15 June 2017
Columbus Energy Resources Plc
("CERP" or "Columbus" or the "Company")
Directorate Change
Appointment of Chief Financial Officer
Columbus Energy Resources, the oil and gas producer and explorer
focused on onshore Trinidad with the ambition to grow in South
America, today announces that James Thadchanamoorthy has informed
the Board of his intention to step down from his position as
Finance Director effective immediately to pursue new
opportunities.
The Company is pleased to announce the appointment of Gordon B.
Stein, as Chief Financial Officer effective immediately. Mr Stein
has over 24 years of international experience in the oil and gas
sector and was most recently CFO of Madagascar Oil. Prior to this,
he was CFO at Cadogan Petroleum, Vanguard Energy Limited and Regal
Petroleum. Mr Stein is a member of the Chartered Institute of
Public Finance & Accountancy.
Mr Stein was appointed to the Board of Columbus Energy Resources
as a Non-Executive Director on 10 January 2017 and will remain on
the Board as an Executive Director, stepping down as Chairman of
the Audit Committee.
Leo Koot, Executive Chairman of Columbus commented:
"On behalf of the Board, I would like to thank James for his
significant contribution to the business over the last five years
and wish him well in his future career.
"I am delighted to welcome Gordon to his new position as Chief
Financial Officer. Gordon's extensive financial and oil and gas
experience will be of significant value to the Company as we enter
our next stage of growth."
Gordon Stein has agreed to receive half his fees for the first
12 months in the form of Company stock to be issued at the end of
his first year at a price of 2.2p per share, being the price at the
time of the last placement in March 2017.
In addition, Mr Stein will be granted options over the Company
shares as follows:
2 million shares strike at 2.22p vesting at 4p
2 million shares strike at 4p vesting at 8p
2 million shares strike at 6p vesting at 12p
2 million shares strike at 8p vesting at 16p
2 million shares strike at 10p vesting at 20p
These options, valid until June 2022, will be issued following
the Company's next General Meeting.
END
Enquiries:
Columbus Energy Resources +44 (0) 203 794 9230
Leo Koot
Beaumont Cornish Limited +44 (0) 20 7628 3396
Nomad and Joint Broker
Roland Cornish / Rosalind
Hill Abrahams
VSA Capital +44 (0) 20 3005 5000
Joint Broker
Andrew Monk / Andrew Raca
Camarco +44 (0) 20 3757 4983
Public and Investor Relations
Georgia Edmonds / James
Crothers / Billy Clegg
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAKMGMVNDVGNZM
(END) Dow Jones Newswires
June 15, 2017 02:01 ET (06:01 GMT)
Columbus Energy Resources (LSE:CERP)
Historical Stock Chart
From Apr 2024 to May 2024
Columbus Energy Resources (LSE:CERP)
Historical Stock Chart
From May 2023 to May 2024