Kistos PLC Appointment of Directors (0172P)
14 October 2021 - 05:00PM
UK Regulatory
TIDMKIST
RNS Number : 0172P
Kistos PLC
14 October 2021
Kistos plc
("Kistos" or the "Company")
Appointment of Directors
Board Changes
Kistos (LSE: KIST), the low carbon intensity energy producer
pursuing a strategy to acquire assets with a role in energy
transition is pleased to announce that Peter Mann and Richard Slape
are being appointed to the board of directors with immediate
effect. Peter Mann is appointed as Chief Executive Officer and
Richard Slape as Chief Financial Officer of the Company.
Following these additions to the Board, Andrew Austin, founder
of Kistos, revert to his previous role as Executive Chairman (in
place of the current Interim Chairman Richard Benmore) and will
step down as Interim CEO. Richard Benmore will re-assume his role
as a Non-Executive Director of the Company alongside Julie Barlow
and Alan Booth.
Positions of the board of directors:
Andrew Austin Executive Chairman
Peter Mann Chief Executive Officer
------------------------
Richard Slape Chief Financial Officer
------------------------
Richard Benmore Non-Executive Director
------------------------
Julie Barlow Non-Executive Director
------------------------
Alan Booth Non-Executive Director
------------------------
Peter Mann was CEO and Managing Director of RockRose from 2017
until 2021 following five years in the UK onshore oil and gas
industry. During this period, Peter was responsible for business
strategy and implementing a restructuring strategy in the difficult
oil price environment at the time. Prior to joining the oil and gas
industry, Peter's career included various management roles. He also
served in the British Army for six years.
Richard Slape was CFO of RockRose from 2019 until 2021. Richard
has over 30 years of experience working with oil and gas
exploration and production companies. He spent much of his career
working in equity capital markets but also held roles at Rockhopper
Exploration and Lansdowne Oil & Gas, where he was a
director.
Commenting, Andrew Austin, Kistos' Interim CEO, said:
"I am pleased to announce that Peter and Richard have agreed to
join the Kistos plc Board as CEO and CFO respectively. Their
appointments will allow me to resume my previous role of Executive
Chairman and I want to thank Richard Benmore for acting as Interim
Independent Non-Executive Chairman over the last five months. As a
team, we will continue to evaluate opportunities to grow the
business while adding value for Kistos' shareholders."
Peter Mann
Peter George Mann (aged 41) owns 1,264,516 ordinary shares in
the Company (representing 1.53% interest in the Company's issued
ordinary shares). Mr Mann has confirmed that there is no further
information to be disclosed pursuant to paragraph (g) of Schedule 2
of the AIM Rules.
Current Directorship
Peak Carbon Forest and Peatland Ltd
Previous Directorship (within 5 years)
Strae Capital Ltd
Richard Slape
Richard Slape (aged 55) owns 129,032 ordinary shares in the
Company (representing [0.16%] interest in the Company's issued
ordinary shares). Mr Slape has confirmed that there is no further
information to be disclosed pursuant to paragraph (g) of Schedule 2
of the AIM Rules.
Current Directorship
Hopton Petroleum Ltd
Previous Directorships (within 5 years)
None
ENDS
Enquiries:
Kistos plc
Andrew Austin c/o Camarco Tel: 020 3757
4983
Panmure Gordon
Nick Lovering / Atholl Tweedie / Tel: 020 7886 2500
James Sinclair-Ford
Camarco
Billy Clegg / James Crothers Tel: 020 3757 4983
Notes to editors
Kistos plc was established to acquire and manage companies in
the energy sector engaging in the energy transition trend. The
Company has acquired Tulip Oil Netherlands B.V., which has a
portfolio of assets, including profitable, highly cash generative
natural gas production, plus appraisal and exploration
opportunities. The Company has 19.5 mmboe of 2P reserves and an
additional 102.1 mmboe of contingent resources.
Kistos is a low carbon producer. The Q10-A gas field in the
Dutch North Sea (60% operated working interest) has recorded a
Scope 1 carbon emissions intensity of 13g CO(2) e/boe since
inception. This compares to an industry average of 22kg CO(2) /boe
for gas extracted from the UK continental shelf. The Q10-A normally
unmanned installation is located approximately 20 km from the Dutch
shore. It is powered sustainably via wind and solar power and is
remotely operated, limiting offshore visits, which are conducted by
boat.
https://kistosplc.com/
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END
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