REG - Serica Energy PLC - Board Changes

Serica EnergyAnnouncement

21/11/2023 07:00

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RNS Number : 0554U  Serica Energy PLC  21 November 2023

Serica Energy plc

("Serica" or the "Company")

Board Changes

London, 21 November 2023 - Serica Energy plc (AIM: SQZ), a British
independent upstream oil and gas company, announces that Andy Bell, Chief
Financial Officer, has informed the board of his intention to step down from
his role in the New Year when he will be replaced by Martin Copeland. Martin
is currently a Principal at energy advisory firm Kirk Lovegrove & Co. Ltd.
Martin has worked in oil & gas financing and advisory roles across a
number of investment banks for more than 30 years. Some of his recent North
Sea experience includes advising Premier Oil on their reverse takeover by
Chrysaor to create Harbour Energy, advising JX Nippon on the sale of their
UKCS business to Neo Energy and advising Tailwind Energy on their sale to
Serica.

David Latin, Chairman of Serica commented:

"Following a very thorough recruitment process, the Serica board is delighted
to announce that Andy's successor as Chief Financial Officer and Executive
board member will be Martin Copeland. Martin will join Serica in the New Year
at which point he will succeed Andy as CFO. Andy will remain with the company
to effect a smooth transition. The board is very grateful to Andy Bell for his
many years of service to the company and our sector."

Mitch Flegg, Chief Executive of Serica commented:

"Firstly, I want to pay tribute to Andy's achievements in the nearly 20 years
he has been with Serica, initially as a Consultant and, since the signature of
the Bruce, Keith and Rhum acquisitions, as VP Finance and then CFO. I would
especially like to thank him for the unstinting support and sage advice he has
given me personally since I became CEO in 2017. I also want to thank him
enormously for agreeing to stay on to provide support during the CFO
transition and to complete the work of creating an integrated finance function
following Serica's acquisition of Tailwind."

"In Martin, we have secured a hugely capable successor to Andy who is well
known to many of us from his years as an advisor. With his banking industry
and advisory experience, Martin brings the full range of financial
capabilities and relevant market knowledge to help Serica navigate the
challenges of the capital markets and to deliver on our strategy designed to
create value for our shareholders."

Regulatory

 

The following information is disclosed under Rule 17 of the AIM Rules for
Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

 

 

Martin Francis David Copeland (aged 54)

 

Mr Copeland does not hold any ordinary shares nor options over ordinary
shares in the Company.

 

 Current Directorships:                Past Directorships (within the last 5 years):
 Ashford Community Fibre Optic C.I.C.
 The Chace Freehold Company Limited

 

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g) of the AIM Rules for Companies in respect
of Martin Francis David Copeland.

 

 

Enquiries:

 

 Serica Energy plc                                      +44 (0)20 7390 0230
 Mitch Flegg (CEO) / Andy Bell (CFO) /

 Stephen Lambert (VP Legal and External Affairs)

 Peel Hunt (Nomad & Joint Broker)                       +44 (0)20 7418 8900
 Richard Crichton / David McKeown / Georgia Langoulant

 Jefferies (Joint Broker)                               +44 (0)20 7029 8000
 Sam Barnett / Will Soutar

 Vigo Consulting (PR Advisor)                           +44 (0)20 7390 0230
 Patrick d'Ancona / Finlay Thomson                      serica@vigoconsulting.com

 

 

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