REG - IOG PLC - Appointment of Independent Non-Executive Director

IogAnnouncement

25/04/2023 07:00

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RNS Number : 2874X  IOG PLC  25 April 2023

25 April 2023

 

IOG plc

 

Appointment of Independent Non-Executive Director

 

IOG plc ("IOG", or "the Company"), (AIM: IOG.L) announces that, following the
announcement on 24 February 2023 of the intention to recruit two new directors
to strengthen the Board, Les Wood has been appointed as an independent
Non-Executive Director of the Company with immediate effect and will become
Chair of the Audit Committee in due course.

 

Les has a 35-year track record of strong financial and operational delivery in
independent and integrated energy companies across multiple jurisdictions. As
Chief Financial Officer (CFO) and Executive Director at Tullow Oil plc over
2017-22, he was instrumental in delivering material portfolio optimisation,
cost management, debt reduction and capital markets activities. Prior to
Tullow, Les had a 28-year career at BP plc including, most recently, CFO roles
in the Middle East (2012-14) and Canada (2009-12). With a technical
background, he previously held several other North Sea-focused technical and
commercial roles at BP.

 

Les Wood's appointment is the culmination of a process undertaken for the
Company by a specialist search agency. IOG intends to appoint an additional
independent Non-Executive Director once the Blythe H2 production well is
onstream.

 

Esa Ikaheimonen, Senior Independent Director, commented:

 

"We are delighted to welcome Les to the Board of IOG where his strong
financial and technical expertise and deep industry experience gained at BP
and Tullow will be extremely valuable. Les was the outstanding choice from a
broad range of strong candidates in this process."

 

The following information is disclosed pursuant to Rule 17 and Schedule Two,
paragraph (g) of the AIM Rules for Companies:

 

George Leslie ("Les") Wood

 

George Leslie ("Les") Wood (aged 61) has been a director of the following
companies during the five years preceding the date of this announcement:

Current Directorships

 

None

 

Previous Directorships

 

Panoro Equatorial Guinea Limited

Planet Oil International Limited

Tullow Argentina Limited

Tullow Comoros Limited

Tullow Congo Limited

Tullow Côte D'Ivoire Exploration Limited

Tullow Côte D'Ivoire Limited

Tullow Cote D'Ivoire Onshore Limited

Tullow EG Exploration Limited

Tullow Gabon Holdings Limited

Tullow Gabon Limited

Tullow Gambia Limited

Tullow Greenland Exploration Limited

Tullow Group Services Limited

Tullow Guinea Limited

Tullow Jamaica Limited

Tullow Madagascar Limited

Tullow Mauritania Limited

Tullow Mozambique Limited

Tullow Namibia Limited

Tullow New Ventures Limited

Tullow Oil (Jersey) Limited

Tullow Oil (Mauritania) Limited

Tullow Oil 100 Limited

Tullow Oil Finance Limited

Tullow Oil Holdings (Guernsey) Limited

Tullow Oil Plc

Tullow Oil SK Limited

Tullow Oil SNS Limited

Tullow Oil SPE Limited

Tullow Peru Limited

Tullow Technologies Limited

Tullow Uganda Midstream Limited

Tullow Uruguay Limited

 

There is no further information to be disclosed in relation to the director
appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules
for Companies.

 

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.

 

Enquiries:

 

 IOG plc                                            +44 (0) 20 7036 1400

 Rupert Newall (CEO)

 James Chance (Head of Capital Markets & ESG)

 finnCap Ltd                                        +44 (0) 20 7220 0500

 Christopher Raggett / Simon Hicks

 Peel Hunt LLP                                      +44 (0) 20 7418 8900

 Richard Crichton / David McKeown

 Vigo Consulting                                    +44 (0) 20 7390 0230

 Patrick d'Ancona / Finlay Thomson

About IOG:

 

IOG is a UK developer and producer of indigenous offshore gas. The Company
began producing gas in March 2022 via its offshore and onshore Saturn Banks
production infrastructure. In addition to its production assets, IOG operates
several UK Southern North Sea licences containing gas discoveries and
prospects which, subject to future investment decisions, may be commercialised
through the Saturn Banks infrastructure. All its assets are co-owned 50:50
with its joint venture partner CalEnergy Resources (UK) Limited. Further
details of its portfolio can be found at www.iog.co.uk (http://www.iog.co.uk)
.

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