REG - Pennpetro Energy PLC - Director Change

Pennpetro EnergyAnnouncement

25/09/2024 10:30

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RNS Number : 6244F  Pennpetro Energy PLC  25 September 2024

Pennpetro Energy PLC

("Pennpetro" or the "Company")

 

 

Director Change

 

 

London, 25 September 2024 - Pennpetro Energy PLC (LSE: PPP) announces that Mr.
Stephen Lunn has joined the Board as a Non-Executive Director with immediate
effect.

 

Stephen Lunn entered the commercial world in 1972 and now possesses a wide
spectrum of experience gained in the global stock broking and investment
banking sectors, initially spending time with Merrill Lynch in London, New
York and Hong Kong. Having obtained registration with the Commodity Futures
Trading Commission in the USA (CFTC), Stephen moved his focus from commodity
trading to dealing in Equities and Bonds.

 

Moving to Australasia in 1976, he worked with a number of Stock Exchange
member firms, culminating in the position of Deputy Chairman for a full-line
broking house, Frank Renouf & Co. covering equities, bonds, portfolio
management together with mergers and acquisitions. Managing significant
Pension funds involved participation in Initial Public Offerings (IPO's),
capital raisings and underwriting new issues.

 

David Lenigas, Pennpetro's Chairman, says; "I welcome Stephen to the board of
Pennpetro as we transform and grow our oil and gas business. Stephen knows
Pennpetro well, having worked with many of the Company's current and previous
management over recent years. Stephen brings a well-established network of
connections and relevant expertise to the Board and will be an extremely
valuable asset to the Company as we complete our audit process and move
towards a different revenue model from our Texas operations."

 

Presently, Mr. Lunn is currently a director of the following non-public listed
companies; Lunbros Trust Ltd., GreenXXCorp Ltd., CFGH Management Limited, FHF
Corporate Finance Limited, Petroquest Energy Ltd. and York Energy Ltd. In the
previous five years, Mr. Lunn was on the board of RRR HoldCo Limited.

 

Mr Lunn is a director of Petroquest Energy Ltd that is a related party due to
the loan agreement in place with Petroquest Energy as outlined in the last
audited and published Full Year accounts.

 

Mr Lunn has related party shareholdings in the Company due to him being a
director of FHF Corporate Finance Ltd (3,184,560 shares) and York Energy Ltd
(500,000 shares). Mr Lunn also holds 1,404 shares in the Company in his own
name.

 

There is no further information to be declared in accordance with LR 9.6.13.

 

 -ENDS-

 

This announcement contains inside information within the meaning of Article
7(1) of (i) Regulation (EU) No 596/2014 of the European Parliament and of the
Council of 16 April 2014, as amended (the "EU Market Abuse Regulation") and
(ii) the EU Market Abuse Regulation as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018.

 

 

ENQUIRIES:

 

For further information contact the Company.

 

 Pennpetro Energy PLC:                                                                                            tme@pennpetroenergy.co.uk

 Tom Evans, CEO

 David Lenigas, Chairman                                                                                          lenigas@monaco-capital.com

 Brokers:                                                                                                         +44 (0) 207 614 5900

 Zeus Capital

 Simon Johnson

 Peterhouse Capital Limited

 Lucy                                                                                                             +44 (0) 20 7469 0930
 Williams

                                                                                                                +44 (0) 20 7220 9797
 Duncan Vasey

                                                                                                                +44 (0) 20 7129 1474
 Flagstaff Strategic and Investor Communications

                                                                                                                pennpetro@flagstaffcomms.com
 Tim Thompson

 Alison Allfrey

 Anna
 Probert

 

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