Fortune Oil PLC Appointment of Acting CEO / Change of Year End (4073U)

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RNS Number : 4073U

Fortune Oil PLC

02 December 2013

2 December 2013

Fortune Oil PLC

("Fortune Oil" or the "Company")

Appointment of Acting Chief Executive and Executive Director

And

Change of Financial Year-end Date

Appointment of Acting Chief Executive and Executive Director

Fortune Oil (LSE: FTO.LN) is pleased to announce the appointment of Dr Tian Jun as the Acting Chief Executive and Executive Director of the Company with immediate effect from the date of this announcement.

Dr Tian joined Fortune Oil as Deputy Chief Executive in April 1999 and has become the Group Chief Operating Officer sinceFebruary 2006. Over his years with the Company, Dr Tian has been heavily involved in development, management and operation of the oil and gas businesses. Dr Tian also played an important role in the merging the gas operation with the one of China Gas Holdings Limited (0384.HK).

A detailed description of Dr Tian's qualifications and experience is set out at the end of this announcement.

This announcement is made pursuant to Listing Rule 9.6.11 of the Listing Rules of the UK Listing Authority. Dr Tian has confirmed the statement as required by Listing Rule 9.6.13 of the Listing Rules of the UK Listing Authority.

Except for the following, there are no matters requiring disclosure in respect of Dr Tian's appointment under Listing Rule 9.6.13 of the Listing Rules of the UK Listing Authority. Dr Tian was appointed as Executive Director of the Company on 25 June 2008 and retired from the Board on 15 June 2010.

Change of Financial Year-end Date

Fortune Oil announces the change of its financial year-end date from 31 December to 31 March starting from the financial year of 2014.

The change of the Company's financial year end is to align the Company's financial year end with China Gas Holdings Limited (0384.HK) to facilitate the efficiency on preparation of the Company's consolidated financial statements and accounts.

Following the change of the financial year-end date, the Company will announce and publish its unaudited interim results for the period to 31 December 2013 by the end of February 2014 and its audited annual results for the fifteen months from 1 January 2013 to 31 March 2014 by the end of July 2014.

 
For further information please contact: 
Fortune Oil PLC 
 Tian Jun - Acting Chief Executive         Tel: [phone] 
 Bill Mok - Chief Financial Officer        Tel: [phone] 
 
Pelham Bell Pottinger 
 Archie Berens                             Tel: [phone] 
 

Background on Dr TIAN Jun

Dr. Tian graduated, with a degree in Economics, from Peking University in 1982, and after which worked in China's State Price Bureau and State Planning Commission for six years. He holds a PHD degree in Economics from the University of London, and published over 50 papers on business management and industrial policies in China. Prior to joining Fortune Oil he had been living in London for 11 years, worked as Academic Visitor at the London School of Economics, the President of Chinese Economic Association in the UK, and an Investment Banker at the City of London..

This information is provided by RNS

The company news service from the London Stock Exchange

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