REG - Petroneft Resources - Board Changes

Petroneft ResourcesAnnouncement

03/01/2024 07:15

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RNS Number : 4402Y  Petroneft Resources PLC  03 January 2024

PetroNeft Resources plc

3 January 2024

 

PetroNeft Resources plc ('PetroNeft' or 'the Company')

 

Board Changes

 

PetroNeft announces the following board changes:

·    Anthony Sacca and Eskil Jersing have submitted their notices to
resign as Independent Non-Executive Directors of the board effective as of 4
January.

·    Michael Power FCA appointed to the Board as Non-Executive Director as
of 4 January.

Anthony was appointed to the PetroNeft board as Independent Non-Executive
Director on 24 April 2016. Eskil Jersing was appointed to the PetroNeft board
on 1 November 2021.

Michael Power is appointed to the Board as Non-Executive Director as of 4
January. Michael has been with the Company since March 2020 and held various
roles in the Finance department as well as the role of Company Secretary.

As announced on the 21 December, due to the company being unable to appoint an
auditor for the 2022 audit and publish audited financial statements for the
financial year ended 31 December 2022, trading in the Company's shares on the
AIM and Euronext Growth markets will be cancelled.  The cancellation will
take effect on 4 January 2024.

The Board will continue to pursue closing out the sale of PetroNeft's Russian
assets as previously announced and will update the shareholders accordingly
through news updates posted exclusively to the Company's website. For further
information on progress of the sale of its Russian assets, PetroNeft
shareholders should click on the following link:

http://petroneft.com/investor-relations/investor-notices/
(http://petroneft.com/investor-relations/investor-notices/)

 

David Sturt, Chairman of PetroNeft Resources plc, commented:

"I want to thank both Anthony and Eskil for their vision & guidance
through exceptionally challenging times, particularly over the last year when
the Company was unable to secure Directors and Officers (D&O) insurance.
 I wish them both well in their future endeavours.

During such challenging times, we are pleased to be able to announce the
appointment of Michael Power FCA to the Board as Non-Executive Director.
Michael, is a fellow of the Institute of Chartered Accountants in Ireland, has
been with the Company since early 2020 and brings a wealth of both financial
and non-financial emerging market experiences"

 

For further information, contact:

 Pavel Tetyakov, CEO, PetroNeft Resources plc          +353 1 647 0280
 Brian Garrahy/Ciara O'Mongain, Davy (NOMAD and Joint  +353 1 679 6363
 Broker)
 Paul O'Kane, Murray Consultants                       +353 1 498 0300

 

 

 

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