Zoetic International PLC Directorate Change (5248M)
17 September 2019 - 4:01PM
UK Regulatory
TIDMZOE
RNS Number : 5248M
Zoetic International PLC
17 September 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
17 September 2019
Zoetic International plc
("Zoetic International" or the "Company")
Directorate Change
Zoetic International, the London listed vertically integrated
CBD and natural resources company, is pleased to announce that Paul
Mendell has been appointed to the Board as Non-Executive
Chairman.
Mr. Mendell has been involved with the Company since its IPO and
has been instrumental in both the identification of its natural
resources projects as well as taking a lead role in establishing
the CBD business, particularly by identifying the significant
potential of Zoetic International's nitrogen-hydrogen gas discovery
in Kansas. He was also the co-founder of Iofina plc and, prior to a
recent acquisition, owned interests in over 250 horizontal and
vertical producing oil and gas wells in the US.
Mr. Mendell has waived any remuneration for his role until the
earlier of six months' time or the Company's share price reaching
14 pence.
Following Mr. Mendell's appointment, the Board has established
an executive management committee who will be responsible for
overseeing the day-to-day operations of the Company. This
comprises:
-- Nick Tulloch - CEO
-- Trevor Taylor - Chief Strategy Officer
-- Antonio Russo - Chief Revenue Officer
-- Eric Anderson - Senior Vice President
-- Melvyn Davies - returns to the Company as Interim CFO
Mr. Taylor and Mr. Russo have primary responsibility for the
Company's CBD business and Mr. Anderson has primary responsibility
for the Company's natural resources assets.
Nick Tulloch, Chief Executive Officer of Zoetic International,
said: "I am delighted to welcome Paul to his new role with us.
Since we announced our new strategy two weeks ago, Paul has been an
enormous support. He has an in depth understanding of both sides of
our business and, in particular, no one has as much knowledge of
our natural resource assets, and of how to monetise them, as Paul.
He is popular with our team and business partners and I am looking
forward to working with him to deliver value to shareholders.
"We have a new name, a new strategy and a refocussed management
team. While we are under no illusion about the scale of the task
ahead of us, we are confident that our CBD business can be built
into a highly profitable operation and that during that period it
can be supported by realising value from our natural resources
assets."
Listing Rule 9.6.13 disclosures
Zoetic International confirms that there are no disclosures to
be made in respect of Paul Mendell for the purposes of Listing Rule
9.6.13.
**ENDS**
Enquiries
Zoetic International plc +44 (0) 1738 472 029
Nick Tulloch
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
David Porter
Newgate Communications +44 (0) 20 3757 6880
Elisabeth Cowell
Ian Silvera
Fiona Norman
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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