We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petroneft Resources Plc | LSE:PTR | London | Ordinary Share | IE00B0Q82B24 | ORD EUR0.01 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.085 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPTR
RNS Number : 1697W
Petroneft Resources PLC
25 April 2016
25 April 2016
PetroNeft Resources plc
("PetroNeft" or the "Group" or the "Company")
Agreement with Natlata
PetroNeft (AIM: PTR) an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 and Natlata Partners Limited, PetroNeft's largest shareholder are pleased to announce they have reached an agreement on a new Board composition and structure. Accordingly, Natlata has agreed to withdraw all of its resolutions due to be considered at the reconvened EGM due to take place at 11 a.m. today.
The Board has appointed Maxim Korobov as non-executive Director and Anthony Sacca and David Sturt as independent non-executive Directors. David Sanders, Gerry Fagan and Paul Dowling have left the Board. Mr. Dowling will remain as CFO of the Company.
The newly constituted Board shall be made up as follows:
-- G. David Golder - Chairman -- Dennis C. Francis - CEO -- Thomas Hickey - independent non-executive Director -- Maxim Korobov - non-executive Director -- Anthony Sacca - independent non-executive Director -- David Sturt - independent non-executive Director
G. David Golder, Chairman of PetroNeft Resources plc, commented:
"We are very pleased to come to a workable compromise with our largest Shareholder Natlata. We feel this is the best way forward for all of the Shareholders in the Company. The agreement allows the Company to implement our recently announced Licence 61 work programme with our partner Oil India along with a new emphasis on business development. This will allow the Company to take advantage of opportunities in today's market.
"I would like to thank the Directors who are stepping down for their service and commitment as Board members. I would like to extend particular thanks to Gerry Fagan, who is stepping down as an independent Non-Executive Director."
Maxim Korobov, Owner Natlata Partners Limited, commented:
"Natlata has agreed to conclude an agreement with the Board of PetroNeft in the best interests of all Shareholders. We look forward to working with the Board to develop the business and to bringing our experience in the Russian market to grow the Company and increase shareholder value."
For further information, contact:
+1 713 988 Dennis Francis, CEO, PetroNeft Resources plc 2500 +353 1 647 Paul Dowling, CFO, PetroNeft Resources plc 0280 John Frain/Brian Garrahy, Davy (NOMAD and Joint +353 1 679 Broker) 6363 Henry Fitzgerald-O'Connor, Canaccord Genuity Limited +44 207 523 (Joint Broker) 8000 +44 207 638 Martin Jackson/Shabnam Bashir, Citigate Dewe Rogerson 9571 +353 1 498 Joe Heron / Douglas Keatinge, Murray Consultants 0300 +44 7703 537721 Stuart Leasor, EM +7 919 102 Tom Blackwell, EM 9064
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRUVANRNOASURR
(END) Dow Jones Newswires
April 25, 2016 02:54 ET (06:54 GMT)
1 Year Petroneft Resources Chart |
1 Month Petroneft Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions