Great E. Energy Corp - Appointment of Managing Director & CEO
23/09/2015 07:01
RNS Number : 8834Z
Great Eastern Energy Corp Ltd
23 September 2015
23 September 2015
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Appointment of Managing Director & Chief Executive Officer
Great Eastern Energy Corporation Limited (LSE:GEEC), the fully integrated gas production, development and exploration company, announces that the Board of Directors was pleased to approve the appointment of Mr. Prashant Modi to the Board of Great Eastern as the Managing Director & Chief Executive Officer of the Company w.e.f. 22 September 2015. Mr. Modi was the President & Chief Operating Officer of the Company.
Mr. Yogendra Kumar Modi, who was the Chairman and Chief Executive Officer of Great Eastern, will now be the Executive Chairman of the Company.
Mr. Rana Talwar, Independent Director and Chairman of the Nomination and Remuneration committee of Great Eastern said:
"We are delighted to announce Prashant's appointment which bears testimony to the hard work, commitment, and achievements in driving through operational excellence within Great Eastern Energy Corporation."
About the Company
The Company is a fully integrated gas production, development and exploration company in India, providing gas to the growing industrial region of West Bengal.Gas is being produced (Coal-Bed Methane gas) from the Raniganj (South) license area, which covers 210 sq. km, with 2.62 TCF of Gas-in-Place.
The Company's second asset is the Mannargudi license situated in the state of Tamil Nadu in India, which covers an area of 667 sq. km and 0.98 TCF Gas-in-Place.
In the year ended as on 31 March 2015, the Company increased its turnover by 9% to US$ 37.46m, EBITDA by 4% to US$ 24.80m and cash generation by 13% to US$ 20.21m.
For further information please visitwww.geecl.com
For further information please contact:
Great Eastern Energy
Yogendra Kr. Modi Executive Chairman +44 (0)20 7614 5917
Prashant Modi Managing Director & CEO
Arden Partners
James Felix +44 (0)20 7614 5900
Ciaran Walsh
Camarco
Ginny Pulbrook +44 (0)20 3757 4992
Billy Clegg
Georgia Mann
This information is provided by RNS
The company news service from the London Stock Exchange
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