Phoenix Global Resources PLC Directorate Change (8489W)
24 April 2019 - 1:30AM
UK Regulatory
TIDMPGR
RNS Number : 8489W
Phoenix Global Resources PLC
23 April 2019
23 April 2019
This announcement contains inside information
Phoenix Global Resources plc
("Phoenix" or the "Company")
Directorate change
Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream
oil and gas company offering its investors direct exposure to
Argentina's Vaca Muerta shale formation and other unconventional
resources, today announces that Mr. Sharma has served a notice on
the Company, which the Company is treating as a notice terminating
his employment in accordance with his service agreement and
resigning from his position as CEO and a director of the Company
with immediate effect.
Pending the recruitment of a new CEO, Tim Harrington, a
non-executive director of the Company, will be appointed interim
chairman of the executive committee, working closely with the CFO
and COO.
Sir Michael Rake, Chairman, commented:
"The board believes strongly in the company's strategy and we
are confident in Tim's ability to lead the Company as we conduct a
search for a new CEO".
The person responsible for making this announcement is Nigel
Duxbury, Company Secretary.
For further information, please contact:
Phoenix Global Resources Sir Michael Rake, Chairman T: +54 11 5258 7500
plc
Stockdale Securities Antonio Bossi T: +44 20 7601 6100
David Coaten
Panmure Gordon Charles Lesser T: +44 20 7886 2500
Camarco Billy Clegg T: +44 20 3757 4980
Owen Roberts
James Crothers
About Phoenix
Phoenix Global Resources is an independent oil and gas
exploration and production company focused on Argentina and listed
on the London Stock Exchange (AIM: PGR) and Buenos Aires Stock
Exchange (BCBA: PGR). The Company has over 1.8 million licensed
working interest acres in Argentina (of which over 0.7 million are
operated), 57.1 million boe of working interest 2P reserves and
average working interest production of approximately 10,249 boepd
in 2018. Phoenix has signi cant exposure to the unconventional
opportunity in Argentina through its approximately 700,000 working
interest acres with Vaca Muerta and other unconventional
potential.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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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