REG - Angus Energy PLC - Directorate Change

Angus EnergyAnnouncement

18/07/2022 14:45

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RNS Number : 8544S  Angus Energy PLC  18 July 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

18 July 2022

 

Angus Energy Plc

("Angus Energy", "Angus" or the "Company")

Appointment of Director

Angus Energy (AIM: ANGS) is pleased to announce that, further to the
announcement of 24 May 2022 and the acquisition of the remaining 49% interest
in the Saltfleetby Project, Paul Forrest has now joined the Board of the
Company as a non-executive director.  Mr. Forrest brings broad hydrocarbon
and financial experience as well as intimate knowledge of the Company's
Saltfleetby gas field.

Paul Forrest, is the owner and sole director of Forum Energy Services Limited,
which sold 100% of Saltfleetby Energy Limited to Angus in May 2022 and which
presently has a substantial strategic stake in Angus of approximately 21%.

Paul Forrest has nineteen years' experience in the natural resources sector,
including ten years in offshore oil and gas in the Philippines, and more
recently seven years UK onshore oil and gas culminating in the acquisition of
the Saltfleetby Project in 2019. He is the former financial controller of AIM
traded Forum Energy Plc and Celtic Resources Plc.

George Lucan, CEO of Angus, writes: "Paul was well known to the Angus team
from some years before the acquisition of Saltfleetby and we have continued
that working relationship into our working partnership in that field over the
last two years.   We welcome his insight and support both as a director and
as a substantial and strategic shareholder."

Paul Forrest, director of Forum Energy Services, writes: "I am pleased to join
the Board and ensure the development of the full potential of the Saltfleetby
gas field, in particular, and the growth and development of the Company as a
profitable transition energy provider more generally."

Other than as disclosed below, there are no further disclosures to be made in
accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules
for Companies:

Paul Forrest (aged 52) is or has during the last five years been a director or
partner of the following companies and partnerships:

 Current:                                                            Past:
 Anglo African Oil & Gas PLC                                         Virdis Holdings UK Limited
 Salfleetby Energy Limited                                           Viridis Holdings UK Limited
 Saltfleetby Energy Europe Limited                                   Kark Consultancy Limited
 Forum Energy Services Limited                                       Conceptual Build Limited
 The Orwell Group Limited                                            Ground Up (North) Limited
 PXOG Massey Limited                                                 Vortolife UK Limited
 Forrest Kolebuk Development Spoka Zorganiczona Od Powiedzalno Scia  Vortolife Holdings Limited
                                                                     Forrest Accounting Limited
                                                                     NPT Cleantech Ltd

 

Paul Forrest holds 546,000,000 Ordinary Shares representing 21.08% of the
Company's issued share capital.

END.

 

Enquiries:

 Angus Energy Plc              www.angusenergy.co.uk (http://www.angusenergy.co.uk/)
 George Lucan                  Tel: +44 (0) 208 899 6380

 Beaumont Cornish (Nomad)      www.beaumontcornish.com (http://www.beaumontcornish.com/)
 James Biddle/ Roland Cornish  Tel: +44 (0) 207 628 3396

 WH Ireland Limited (Broker)
 Katy Mitchell/ Harry Ansell   Tel: +44 (0) 113 394 6600

 Flagstaff PR/IR               angus@flagstaffcomms.com (mailto:angus@flagstaffcomms.com)
 Tim Thompson                  Tel: +44 (0) 207 129 1474
 Fergus Mellon
 Aleph Commodities             info@alephcommodities.com

 

Notes

 

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent onshore Energy Transition
company with a complementary portfolio of clean gas development assets,
onshore geothermal projects, and legacy oil producing fields. Angus is focused
on becoming a leading onshore UK diversified clean energy and energy
infrastructure company.  Angus Energy has a 100% interest in the Saltfleetby
Gas Field (PEDL005), majority owns and operates conventional oil production
fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the
Balcombe Licence (PEDL244). Angus Energy operates all fields in which it has
an interest.

 

Important Notices

This announcement contains 'forward-looking statements' concerning the Company
that are subject to risks and uncertainties. Generally, the words 'will',
'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects',
'aims', 'intends', 'anticipates' or similar expressions or negatives thereof
identify forward-looking statements. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of these risks
and uncertainties relate to factors that are beyond the Company's ability to
control or estimate precisely. The Company cannot give any assurance that such
forward-looking statements will prove to have been correct. The reader is
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this announcement. The Company does not
undertake any obligation to update or revise publicly any of the
forward-looking statements set out herein, whether as a result of new
information, future events or otherwise, except to the extent legally
required.

 

Nothing contained herein shall be deemed to be a forecast, projection or
estimate of the future financial performance of the Company.

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