Zoltav Resources Inc Directorate Change (6938F)
19 May 2017 - 10:29PM
UK Regulatory
TIDMZOL
RNS Number : 6938F
Zoltav Resources Inc
19 May 2017
19 May 2017
Zoltav Resources Inc.
("Zoltav" or the "Company")
Directorate Change
Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration
and production company, announces that Marcus Rhodes, senior
independent director, will not stand for re-election at the Annual
General Meeting of the Company ("AGM") on 23 May 2017; and will
retire as a director of the Company, after three years of service,
effective from the date of the AGM.
Accordingly, the resolution for his re-election as a director of
the Company will be withdrawn from the AGM. The Company is grateful
for Mr Rhodes' valuable contribution during his years as a director
of Zoltav and, in particular, as the chairman of the Company's
audit committee.
Lea Verny, independent non-executive chairman, will also hold
the position of senior independent director with effect from the
date of the AGM; and will replace Mr Rhodes as chairman of the
audit committee and as a member of the nomination and remuneration
committee.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Contacts:
Zoltav Resources Inc. Tel. +44 (0)20 7830 9704
Lea Verny, Non-executive Chairman (via Vigo Communications)
SP Angel Corporate Finance Tel. +44 (0)20 3470 0470
LLP (Nomad and Joint Broker)
John Mackay, Jeff Keating,
Soltan Tagiev
Panmure Gordon (Joint Broker) Tel. +44 (0)20 7886 2500
Adam James or Tom Salvesen
Vigo Communications Tel. +44 (0)20 7830 9704
Patrick d'Ancona or Ben Simons zoltav@vigocomms.com
About Zoltav
Zoltav is an oil and gas exploration and production company
focused on Russia.
Zoltav holds the Bortovoy Licence in the Saratov region of South
Western Russia, a 3,215 square kilometre area along the northern
margin of the Pre-Caspian basin, one of the largest hydrocarbon
basins in the CIS.
The Bortovoy Licence contains a number of productive gas fields,
a processing plant and significant exploration prospectivity. It
holds Proved plus Probable reserves of 750 bcf (21.3 bcm) of gas
and 3.8 mmbbls (484 mT) of oil and condensate. In 2016, the
Bortovoy Licence produced approximately 3.3 mmboe (450 mToe).
Zoltav also holds the Koltogor E&P Licence, a 528 square
kilometre area in the Khantiy-Mansisk Autonomous Okrug of Western
Siberia, one of Russian's most prolific oil producing regions. The
Koltogor E&P Licence contains the Koltogor oil field with
Proved plus Probable reserves of 79.2 mmboe (10.8 mToe).
Additionally, Zoltav holds Koltogor E&P Licence 10, a 167
square kilometre area due west of the Koltogor E&P Licence,
containing the West Koltogor oil field.
For further information on Zoltav or to sign up for our news
alert service visit: www.zoltav.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 19, 2017 08:29 ET (12:29 GMT)
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