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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Saffron Eng | LSE:SRON | London | Ordinary Share | GB00BDCFP425 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.10 | 4.00 | 4.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSRON
RNS Number : 5293I
Saffron Energy PLC
22 March 2018
22 March 2018
Saffron Energy plc
("Saffron" or the "Company")
Appointment of Chief Executive Officer
Saffron, the pan Euro Asian gas explorer to be renamed Coro Energy plc, is delighted to announce the appointment of James Menzies as Chief Executive Officer, whose appointment is expected to take effect from 1 May 2018.
James is a specialist South East Asian explorer who founded Salamander Energy plc, where he served as CEO for ten years before selling to Ophir Energy Plc in a transaction that valued the business at US$850M in 2015. James is a qualified geologist with over 30 years' oil & gas industry experience.
Sara Edmonson, currently Chief Executive of Saffron, will remain on the Board assuming the role of Deputy Chief Executive with effect from James Menzies' appointment. Sara will work closely with James Menzies as he leads the early phase building of the regional business with a view to succeeding James in due course.
James Parsons, Chairman of Saffron, commented:
"This appointment is designed to accelerate our development into a leading South East Asian gas player, providing the Company with an enviable Executive Team combining James' deep regional knowledge and network with Sara's financial acumen, charisma and energy. I am delighted to welcome James to Saffron/Coro."
James Menzies, CEO elect of Saffron, said: "I am very pleased to be joining the Company at such an exciting time. I look forward to working with James and Sara and the rest of the team as we identify the exciting opportunities in South East Asia that are expected to enable us to build a business of material size and meaningful value for shareholders. Assuming all resolutions are approved at the forthcoming General Meeting, and that the transactions relating thereto complete as anticipated, we will have a strong financial platform on which to build and high quality people who will be able to create a pipeline of transactions which will enable the Company to grow quickly. I look forward to meeting investors at the forthcoming General Meeting."
Further information on James Menzies
James Graeme Menzies, aged 55, is or has been a director of the following companies in the last five years:
Hot Features
Premium
Current Directorships Previous Directorships
------------------------------- --------------------------------
Trinity Exploration & Salamander Energy plc
Production plc
------------------------------- --------------------------------
Guinness Oil & Gas Exploration Salamander Energy (Holdco)
Trust plc Limited
------------------------------- --------------------------------
Salamander Energy (JS)
Limited
------------------------------- --------------------------------
Salamander Energy (Bengara)
Limited
------------------------------- --------------------------------
Salamander Energy (Vietnam)
Limited
------------------------------- --------------------------------
Salamander Energy Group
Limited
------------------------------- --------------------------------
Salamander Energy (S.E.
Asia) Limited
------------------------------- --------------------------------
Salamander Energy (Bualuang
Holdings) Limited
------------------------------- --------------------------------
Salamander Energy (Philippines)
Limited
------------------------------- --------------------------------
Salamander Energy (Glagah
Kambuna Holdings) Limited
------------------------------- --------------------------------
Ophir Indonesia (Simenggaris)
Limited
------------------------------- --------------------------------
Ophir Energy Indonesia
Limited
------------------------------- --------------------------------
Ophir Indonesia (Kutai)
Limited
------------------------------- --------------------------------
Ophir Thailand (E&P)
Limited
------------------------------- --------------------------------
Ophir (Indonesia South
East Sangatta) Limited
------------------------------- --------------------------------
Ophir Indonesia (Bontang
II) Limited
------------------------------- --------------------------------
Tap Oil Ltd
------------------------------- --------------------------------
James Menzies has today been issued options to subscribe for 25 million new Ordinary Shares at a price of 4.38p share. The options will vest after 3 years and expire after 5 years. James Menzies does not hold any shares in the Company.
There is no further information to be disclosed in accordance with Schedule 2(g) and Rule 17 of the AIM Rules.
For further information please contact:
Saffron Energy plc / Coro Energy plc s.edmonson@coroenergyplc.com Sara Edmonson, Chief Executive j.parsons@coroenergyplc.com Officer James Parsons, Non-Executive Chairman Grant Thornton UK LLP (Financial Tel: +44 (0)20 383 and Nominated Adviser) 5100 Colin Aaronson Jen Clarke Harrison J Clarke Turner Pope Investments (TPI) Tel: +44 (0)20 3621 Ltd (Broker) 4120 Ben Turner info@turnerpope.com James Pope
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 22, 2018 03:02 ET (07:02 GMT)
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