REG - Pennpetro Energy PLC - Appointment of Board Director

Pennpetro EnergyAnnouncement

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RNS Number : 8421A  Pennpetro Energy PLC  17 April 2026

17 April 2026

 

Pennpetro Energy Plc

("Pennpetro" or the "Company")

Appointment of Board Director

 

Pennpetro Energy plc (PPP), the company focused on developing strategic energy
projects, announces the appointment of Grand Chief Ronald M. Derrickson as
Non-Executive Co-Chairman to support the current Executive Chairman, Richard
Spinks, in the Company's future development. Spinks will continue in his role
as Executive Co-Chairman.

This follows the announcement of 25 September 2025, where the Company
confirmed RMD Group's right under the terms of the first CLN, to appoint two
directors to the Pennpetro board, and the appointment of Richard Spinks, the
first of these appointments, is now augmented by Grand Chief Derrickson, the
second RMD Group appointment.

About Grand Chief Ronald M. Derrickson

Grand Chief Derrickson is the Owner and President of RMD Group, and a leading,
highly successful Indigenous entrepreneur known across Canada and the United
States for his leadership in Indigenous economic development and protection of
Indigenous Rights.

After being elected Chief of Westbank First Nation in 1976. He served as Chief
of the Westbank First Nation from 1976 to 1986 and from 1996 to 1998, taking
his community from an indebted People with limited prospects to one of
Canada's most successful Indigenous Bands, with an annual GDP of over
c.$1billion today, and one of the fastest growing communities in British
Columbia and Canada.

Ron was honored by his peers and elected unanimously by the Union of BC Indian
Chiefs in 2012 as Grand Chief for Life, in recognition of his service to his
People.

He has been a lifelong defender of the rights of Indigenous People and was
responsible for succeeding in gaining forestry rights, Canada-wide for
Indigenous Peoples where prior, there were none. His relationships are
incredibly valuable when resources and Indigenous involvement are present too,
through his involvement Pennpetro is evaluating unique opportunities and
exploring new economic models for resource development in Canada.

Ron is also an award-winning author, working on his seventh book to date, and
a philanthropist providing among other valuable programs, scholarships,
providing education to Indigenous students who otherwise would not enjoy the
opportunities that some take for granted, reversing his own personal
experiences as a young Indigenous man growing up.

Mr. Derrickson's interest in the Company arises through his holdings in RMD
Group, which has provided convertible loan note financing to the Company as
announced on 25 September 2025, pursuant to which RMD Group holds the right to
convert into 12,500,000 ordinary shares in the Company, subject to, inter
alia, shareholder approval of resolutions to authorise the issue of such
shares.

There is no additional information required to be disclosed pursuant to UK
Listing Rule 6.4.8 in relation to the appointment.

Richard Spinks, Executive Chairman said: "It is a real privilege to welcome
Grand Chief Ronald Derrickson onto our Board, with his guidance and experience
we have added great depth and capability to the Company's governance and
opportunities unique to PPP amongst listed resource companies. I would like to
thank him for his vision and commitment to the Company thus far, having
provided the two Convertible Loan Notes, to date, giving the Company the
funding to unwind legacy issues and to move the business forwards. We have
worked extremely hard to get the Company into a position where the legacy
issues are moving behind us and we can focus our attention on the future of
the Company, meaning that now is an opportune time to announce his joining our
team."

Grand Chief Ronald M. Derrickson said of his appointment: "I would like to
thank Richard and his team for their tireless efforts and support in the
recent months. The Company has undergone a remarkable transformation to
prepare it to return to trading and with RMD Group's financial support we are
now able to charter a new future for Pennpetro.

"We are excited about the opportunities ahead of us to deliver value for
shareholders and grow our disruptive business globally, bringing real value to
shareholders, existing and new, into the future."

 

 

For further information, contact:

 Pennpetro Energy Plc                       c/o Camarco

 Richard Spinks | Mavriky Kalugin
 Oak Securities - Broker                    +44 (0) 20 3973 2678

 Jerry Keen, Head of Corporate Broking
 Camarco - Financial PR                     +44 (0) 20 3757 4980

 Andrew Turner | Fergus Young               ppp@camarco.co.uk (mailto:ppp@camarco.co.uk)

 

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