Petroceltic International PLC Board & Senior Management Changes (1127I)
23 March 2015 - 6:01PM
UK Regulatory
TIDMPCI
RNS Number : 1127I
Petroceltic International PLC
23 March 2015
Dublin
23 March 2015
Petroceltic International plc
Board and Senior Management Changes
Petroceltic International plc ("Petroceltic" or the "Company"),
the oil and gas exploration, development and production company
focused on the Middle East and North Africa, the Mediterranean and
Black Sea regions, today announces a number of changes to the Board
of the Company and its Committees with immediate effect.
Following the appointment of Neeve Billis and Nicholas Gay as
Independent Non-Executive directors and the resignation of Don
Wolcott and Joe Mach as Non-Executive directors, the following
changes have been made to the Board and its Committees.
-- Neeve Billis has been appointed as Senior Independent Director and has joined the Audit,
Nominations and Remuneration Committees.
-- Nicholas Gay has been appointed as Chairman of the Audit Committee and has also joined the
Nominations Committee.
Following these changes the Audit Committee will consist of
Nicholas Gay (Chair), Neeve Billis and Alan Parsley and the
Remuneration Committee will consist of Alan Parsley (Chairman), Ian
Craig and Neeve Billis. The Nominations Committee will continue to
be chaired by Robert Adair and will also include Brian O'Cathain,
Ian Craig, Nicholas Gay and Neeve Billis.
In addition to these changes, Tom Hickey, the Company's Chief
Financial Officer, has been re-appointed to the Board of the
Company with immediate effect. Tom previously served on the Board
from December 2010 to July 2014.
Finally, David Thomas, the Company's Chief Operating Officer,
has indicated his intention to leave the Company for personal
reasons and is expected to depart from the business during
April.
Robert Adair, Chairman of Petroceltic Commented:
"I am delighted to confirm the appointment of Neeve Billis as
Senior Independent Director and Nicholas Gay as Chairman of the
Audit Committee and to welcome Tom Hickey back to the Board as an
Executive Director.
I have worked with David Thomas for over 8 years at both Melrose
Resources and Petroceltic and I would like to sincerely thank him
for his hugely significant contribution to our business over this
time. He leaves with our very best wishes for the future."
Ends
For further information, please contact:
Brian O' Cathain /Tom Hickey, Petroceltic International Tel: +353 (1) 421 8300
Philip Dennis / Rollo Crichton-Stuart, Bell Pottinger Tel: +44 (20) 3772 2500
Douglas Keatinge / Joe Heron, Murray Consultants Tel: +353 (1) 498 0300
John Frain / Roland French, Davy Tel: +353 (1) 679 6363
Notes to Editors:
Petroceltic International plc is a leading Upstream Oil and Gas
Exploration and Production Company, focused on North Africa,
Mediterranean and Black Sea Regions, and listed on the London Stock
Exchange's AIM Market and the Irish Stock Exchange's ESM Market.
The Company has production, exploration and development assets in
Algeria, Egypt, Bulgaria, the Kurdistan Region of Iraq and
Italy.
Additional Information:
Pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM and
ESM Rules for Companies, the following information is
disclosed:
Thomas Hickey, age 46 is or has been a member or director of the
following companies or partnerships during the previous five
years:
Current Directorships: Petroceltic International plc, Petroneft
Resources plc, O'Rahilly Row Limited.
Previous Directorships: Ikon Science Limited, Senscomm Photonics
Ltd.
Mr. Hickey currently holds 349,314 ordinary shares in
Petroceltic. There are no further details that are required to be
disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM and ESM
Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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