REG - Ithaca Energy PLC Delek Group - DLEKG - Directorate Change

Ithaca EnergyAnnouncement

28/06/2024 14:15

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RNS Number : 4121U  Ithaca Energy PLC  28 June 2024

Press release

Board of Directors Changes

 

Ithaca Energy plc, ("Ithaca Energy" or the "Company"), a leading independent
oil and gas operator in the North Sea today formally announces the appointment
of Yaniv Friedman as Executive Chairman. Today's appointment follows the
announcement on 28 May 2024 of a number of changes to the Company's Board of
Directors and Executive Management team, including that of Yaniv Friedman's
appointment, to strengthen the Company's executive leadership as it embarks on
its next phase of growth, having recently announced its proposed
transformational business combination with substantially all of the upstream
assets of Eni in the UK.

 

Yaniv Friedman has significant global executive experience working in the
energy and infrastructure sectors and brings considerable strategic,
commercial, public company and M&A expertise. Yaniv most recently held the
role of CEO of Modiin Energy LP, an oil and gas partnership listed on the Tel
Aviv Stock Exchange with operations including development projects in the US
as well as exploration offshore Israel. Prior to this, Yaniv served as Deputy
Chief Executive Officer of Newmed Energy LP, Israel's leading energy
partnership in the exploration, development, production and sale of natural
gas. Yaniv has also  held other senior executive positions in public and
private energy companies.

 

There is no further information to be disclosed pursuant to Listing Rule
9.6.13.

 

Dave Blackwood, CBE having temporarily served as non-executive Chairman will
return to his role as a  non-executive director.

 

 

Enquiries

 

 Ithaca Energy
 Kathryn Reid - Head of Investor Relations, Corporate Affairs &      kathryn.reid@ithacaenergy.com (mailto:kathryn.reid@ithacaenergy.com)
 Communications

 FTI Consulting (PR Advisers to Ithaca Energy)                       +44 (0)203 727 1000
 Ben Brewerton / Nick Hennis / Rosie Corbett                         ithaca@fticonsulting.com (mailto:ithaca@fticonsulting.com)

 

 

Note to editors:

 

About Ithaca Energy plc

 

Ithaca Energy is a leading UK independent exploration and production company
focused on the UK North Sea with a strong track record of material value
creation. In recent years, the Company has been focused on growing its
portfolio of assets through both organic investment programmes and
acquisitions and has seen a period of significant M&A driven growth
centred upon two transformational acquisitions in recent years. Today, Ithaca
Energy is one of the largest independent oil and gas companies in the United
Kingdom Continental Shelf (the "UKCS"), ranking second by resources.

 

With stakes in six of the ten largest fields in the UKCS and two of UKCS's
largest pre-development fields, and with energy security currently being a key
focus of the UK Government, the Group believes it can utilise its significant
reserves and operational capabilities to play a key role in delivering
security of domestic energy supply from the UKCS.

 

Ithaca Energy serves today's needs for domestic energy through operating
sustainably. The Group achieves this by harnessing Ithaca Energy's deep
operational expertise and innovative minds to collectively challenge the norm,
continually seeking better ways to meet evolving demands.

 

Ithaca Energy's commitment to delivering attractive and sustainable returns is
supported by a well-defined emissions-reduction strategy with a target of
achieving net zero by 2040.

 

Ithaca Energy plc was admitted to trading on the London Stock Exchange (LON:
ITH) on 14 November 2022.

 

-ENDS-

 

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