REG - Prospex Energy PLC - Board Changes

Prospex EnergyAnnouncement

07/05/2026 07:00

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RNS Number : 3013D  Prospex Energy PLC  07 May 2026

Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas

 

 

7 May 2026

 

Prospex Energy plc

("Prospex" or the "Company")

 

Board Changes

 

Prospex Energy plc (AIM: PXEN), the AIM-quoted investing company focused on
European gas and power projects, is pleased to announce the appointment of Mr
Simon Ashby-Rudd as a non-executive director effective immediately.  In
addition, Mr Andrew Hay, non-executive director, has informed the board that
he will not be standing for re-election at the Company's Annual General
Meeting, expected to be held in June 2026.

 

Mr Ashby-Rudd is an energy banking professional with over 35 years' experience
providing strategic and financial advice to the energy sector. He has senior
investment banking experience leading deals across equity capital markets,
public and private debt, and corporate and asset acquisitions and divestments
in Europe, North America, and Africa. He is an experienced corporate director,
currently serving as a non-executive director of AIM-listed Europa Oil &
Gas Plc. and as the Independent Chair of other closely held companies.

 

Bill Smith, Non-Executive Chair of Prospex, commented:

"We are delighted that Simon has agreed to join the Board of Prospex. This is
another step in the Board's ongoing strategic refocus on net value impact and
non-dilutive shareholder value creation, which started with the appointment of
Tom Reynolds as CEO.

 

"Simon brings a wealth of experience in capital markets, with a focus on the
European energy sector. I have no doubt that Prospex will benefit from his
proven track record of driving growth through acquisitions and sales, as well
as his established network across institutions, family offices, industry
participants, and high-net-worth investors, which will support access to the
capital needed to strengthen the Company's asset portfolio.  Simon will stand
for election as a director at the upcoming Annual General Meeting of
Shareholders.

 

"Andrew, who has ably served the Company as a non-executive director since
2023, will not be standing for re-election at the Company's AGM.  Andrew's
contributions, insights and guidance, including his service as Chair of the
Audit Committee, have been significant. I would like to take this opportunity
to wish Andrew the best for his future endeavours."

 

Additional Information

Mr Simon Ashby-Rudd, aged 58, is currently a director/partner, or is a
director/partner in the past five years of the companies listed below:

 

 Current Directorships                Past Directorships (in the last 5 years)
 DeepTech Recycling Limited           Sound Energy Plc
 Europa Oil & Gas (Holdings) plc
 Treyford Energy Ltd

 

Mr Ashby-Rudd has no direct or indirect interest in the Company's issued share
capital.

 

There is no further information to be disclosed pursuant to AIM Rule 17 and
Schedule Two paragraph (g) of the AIM Rules in respect of the appointments of
the directors.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

* * ENDS * *

 

For further information visit www.prospex.energy (http://www.prospex.energy)
or contact the following:

 

 William Smith - Chairman   Prospex Energy PLC  Tel: +44 (0) 20 7236 1177    Prospex Energy PLC  Prospex Energy PLC  Tel: +44 (tel:+44)  (0) 20 7236 1177   Tel: +44 (0) 20 7236 1177   Prospex Energy PLC  Tel: +44 (tel:+44)  (0) 20 7236 1177
 Tom Reynolds                                                                Prospex Energy PLC                                                             Tel: +44 (Tel:+44) (0) 20 7236 1177
 Ritchie Balmer                                                              Strand Hanson Limited                                                          Tel: +44 (0) 20 7409 3494

Rory Murphy
 Andrew Monk (Corporate Broking)                                             VSA Capital Limited                                                            Tel: +44 (0) 20 3005 5000

Andrew Raca (Corporate Finance)
 Neil Passmore                                                               Hannam & Partners                                                              Tel: +44 (0) 20 7907 8500

 Leif Powis
 Ana Ribeiro / Charlotte Page                                                St Brides Partners Limited                                                     Tel: +44 (0) 20 7236 1177

 Prospex Energy PLC  Prospex Energy PLC  Tel: +44 (tel:+44)  (0) 20 7236 1177

 Tel: +44 (0) 20 7236 1177   Prospex Energy PLC  Tel: +44 (tel:+44)  (0) 20 7236 1177

Tom Reynolds

Prospex Energy PLC

Tel: +44 (Tel:+44) (0) 20 7236 1177

Ritchie Balmer

Rory Murphy

Strand Hanson Limited

Tel: +44 (0) 20 7409 3494

Andrew Monk (Corporate Broking)

Andrew Raca (Corporate Finance)

VSA Capital Limited

Tel: +44 (0) 20 3005 5000

Neil Passmore

Leif Powis

Hannam & Partners

Tel: +44 (0) 20 7907 8500

Ana Ribeiro / Charlotte Page

St Brides Partners Limited

Tel: +44 (0) 20 7236 1177

 

About Prospex Energy

Prospex Energy plc is an AIM-quoted investing company focused on high-impact
onshore and shallow offshore European opportunities with short timelines to
production.  The Company's strategy is to acquire undervalued projects with
multiple, tangible value trigger points that can be realised within 12 months
of acquisition and then apply low-cost re-evaluation techniques to identify
and de-risk prospects.  The Company will rapidly scale up gas production in
the short term to generate internal revenue, which can then be deployed to
develop the asset base and further increase production.

 

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