Great E. Energy Corp - Policy for Term of Independent Directors
07/06/2016 14:17
RNS Number : 4728A
Great Eastern Energy Corp Ltd
07 June 2016
7 June 2016
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Adoption of Policy for Term of Independent Directors
Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading IndianCoal Bed Methane (CBM) Company, announces that as part of Corporate Governance and in line with the spirit of the requirement of the new Indian Companies Act, 2013 (Act), which came into effect with effect from 1st April, 2014, the Company's Nomination and Remuneration Committee has approved that the Independent Directors of the Company shall hold office for a maximum period of 10 years (two terms of 5 years each) on the Board of the Company but from the date of their first appointment as Director on the Board of the Company.
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.
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
Patrick Caulfield
This information is provided by RNS
The company news service from the London Stock Exchange
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