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ORCP Oracle Power Plc

0.0235
0.0005 (2.17%)
Last Updated: 09:33:18
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Oracle Power Plc LSE:ORCP London Ordinary Share GB00B23JN426 ORD 0.001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0005 2.17% 0.0235 0.022 0.025 0.0235 0.0215 0.023 9,066,917 09:33:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Coal Mining Services 0 -1.29M -0.0003 -0.67 747.08k

Oracle Power PLC Board Appointment (8110K)

12/07/2017 7:00am

UK Regulatory


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RNS Number : 8110K

Oracle Power PLC

12 July 2017

12 July 2017

ORACLE POWER PLC

("Oracle" or the "Company")

Board Appointment

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the Thar desert in the south-eastern Sindh Province of Pakistan, today announces the appointment of Mr Mark Steed to its Board of Directors, as a Non-executive Director, with immediate effect.

Mr Steed's appointment is intended to strengthen the Company's Board for its next stage of development and project delivery of Block VI, Thar Coalfield, Sindh, Pakistan, as well as to increase the Company's access to a wider international investor base, and to identify new diversification opportunities for Oracle to deliver early cash flows.

Mr Steed has had a career in the field of international stock and commodity markets, the management of offshore hedge funds, corporate finance and trading in securities in emerging economies. He has worked with and set up various portfolio and fund management companies, in the roles of Chief Executive Officer, Chief Financial Officer and Compliance Officer. Notably he has been involved in the set up of Amstel Securities LLP, City Capital Securities Limited, Shard Capital Partners LLP and the Sion Hall Family Office.

Anthony Scutt, Chairman of Oracle, said:

"It is with pleasure that I welcome Mark to our Board. His distinguished expertise in the field of corporate finance and the administration and management of offshore hedge funds will be of considerable value to the broader development of the Company."

Mr Mark Wickham Steed, aged 64, is, or has been, a director or partner of the following companies or partnerships during the past five years:

 
 Current directorships             Former directorships 
  and/or partnerships               and/or partnerships (within 
                                    the last five years) 
 Amstel Fund Management 
  Limited                          Aesculus Press Limited 
 Amstel Securities LLP             CCSL Limited 
 Amstel Securities UK 
  Limited                          INDIEMOVIESONLINE Limited 
 Financial Trading & Consultancy   SAM Capital Partners 
  Limited                           Ltd 
 Fotunate City Investment 
  Ltd                              SSG Holdings Limited 
 KAV Invest Holding AG             The Downside Settlement 
 Realworld Capital Management      Cars Drive LLP 
  Ltd 
 Sion Hall Family Office 
  Ltd 
 

On 9 December 1998, Global Portfolio Management Limited, a company of which Mr Mark Steed was a director at the time, was placed into creditors' voluntary liquidation with an estimated deficiency as regards creditors of GBP145,327. The liquidation process concluded and Global Portfolio Management Limited was dissolved on 6 June 2000.

Mr Steed has a beneficial interest in 342,500 ordinary shares of 0.1 pence each in the capital of the Company, which represents 0.04% of the issued share capital of Oracle.

There is no further information required to be disclosed in respect of the above appointment pursuant to paragraph (g) of Schedule 2 of the AIM Rules for Companies.

For further information:

 
 Oracle Power PLC                         +44 (0) 203 
  Shahrukh Khan                              580 4314 
 Grant Thornton UK LLP (Nominated 
  Adviser) 
  Salmaan Khawaja, Richard Tonthat,       +44 (0) 207 
  Daniel Bush                                373 5100 
 Brandon Hill Capital Limited 
  (Joint Broker)                           +44 (0)203 
  Oliver Stansfield                          463 5000 
 Peterhouse Corporate Finance 
  (Joint Broker)                       +44 (0)20 7220 
  Charles Goodfellow                             9791 
 Blytheweigh 
  Tim Blythe, Camilla Horsfall,           +44 (0) 207 
  Megan Ray                                  138 3204 
 Fortbridge                               +44 (0)7966 
  Matt Beale, Bill Kemmery                     389196 
 

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOASFESIEFWSEDW

(END) Dow Jones Newswires

July 12, 2017 02:00 ET (06:00 GMT)

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