Appointment of New Executive Chairman (9054S)
29 November 2011 - 2:16AM
UK Regulatory
TIDMNGP
RNS Number : 9054S
Niche Group (The) PLC
28 November 2011
For immediate release: 28 November 2011
The Niche Group plc
("Niche" or the "Company")
Appointment of New Executive Chairman
The board of Niche, the investment company with interests in oil
and gas exploration and development activities onshore Turkey, is
pleased to announce the appointment of Stuart Thomas as Executive
Chairman with immediate effect.
Stuart takes over from Nigel Little who has regrettably stepped
down from the Board due to ill-health.
Stuart Thomas, a 4.32% shareholder of Niche, joined the board
earlier this month, initially as a non executive director. Stuart
is an expert in the oil and gas industry having, earlier in his
career, been an oil and gas research analyst. He holds a BSc in
Petroleum Geology from Imperial College, London. He is the founder
of Spring Capital Limited, an investment company specialising in
the energy sector, where he has been instrumental in building that
business into a profitable enterprise. The board is delighted that
Stuart has agreed to lead the Company as its Executive Chairman. He
has, since joining the board, been in discussions with Oman
Resources Limited ("Oman Resources") with a view to maximising the
value represented to Niche shareholders from its investments in
Oman Resources. The board looks forward to updating shareholders
regarding this at the appropriate time.
The board would like to place on record its thanks to Nigel
Little for his significant contribution to the development of Niche
to date and wish him a speedy recovery.
Stuart Thomas, Executive Chairman, commented:
"I believe Niche has a significant, and unique, opportunity for
value creation in the Turkish natural resources market, where its
current investments are focused. I look forward to working closely
with the board towards unlocking that value for shareholders."
Enquiries:
The Niche Group plc
Rakesh Patel
Tel. +44 (0)20 8371 3071
Daniel Stewart & Co. Plc - Nominated Advisor and Joint
Broker
Oliver Rigby
Tel. +44 (0)20 7776 6550
Canaccord Genuity - Joint Broker
Charles Berkeley / Henry Fitzgerald-O'Connor
Tel: +44 (0) 20 7050 6500
M: Communications
Ben Simons
Tel. +44 (0)20 7920 2340
This information is provided by RNS
The company news service from the London Stock Exchange
END
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