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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 : 0235Z
Saffron Energy PLC
12 December 2017
12 December 2017
Saffron Energy plc
("Saffron Energy" or the "Company")
Board Changes and Proposed Name Change
Saffron Energy is pleased to announce, further to the transaction announced on October 5 (the "Transaction"), the following changes to the Board of the Company:
-- James Parsons, Chief Executive Officer of Sound Energy plc and Chairman of Echo Energy plc has been appointed as Non Executive Chairman of the Company
-- Fiona MacAulay, Chief Executive Officer of Echo Energy plc, has been appointed as a Non Executive Director of the Company
-- Marco Fumagalli, Managing Director of Continental Investment Partners, has been appointed as a Non Executive Director of the Company
-- David Garland has stepped down from the role of Chairman but remains on the Board as a Non Executive Director until completion of the Transaction
-- Kevin Bailey has stepped down from the role of Non Executive Director but remains on the Board as an observer until shareholder approval of the Transaction
Sara Edmonson will continue in her role as Chief Executive Officer and a Director of the Company whilst Michael Masterman will step down from the board with immediate effect and Christopher Johannsen will step down from the Board with effect from 31 December 2017.
As previously announced, and subject to shareholder vote, the Company will be renamed Coro Energy plc.
James Parsons commented:
"We see the current environment as one of very real and continuing opportunity for growth focused gas exploration companies with access to high potential acreage, talent and capital. The changes announced today establish Coro Energy as an initial platform from which the company plans to grow significantly, in terms of hydrocarbon, human and financial resources.
I am looking forward to working again with Continental and the new team to quickly establish this company as a successful mid cap player and a growth vehicle of real excitement for our investors."
David Garland commented:
"Since Saffron's IPO earlier this year Michael Masterman and the team have made huge progress establishing Saffron as a leading Italian player and we are extremely grateful for their contribution.
I am now delighted to welcome James and the new team to the Board. We are hugely excited about the Company's evolution into a mid cap gas explorer."
Further information on James Parsons
James Parsons, aged 45, is or has been a director of the following companies in the last five years:
Hot Features
Premium
Current Directorships Previous Directorships
---------------------- --------------------------
Sound Oil Limited Echo Energy Holdings
(UK) Ltd
---------------------- --------------------------
Sound Energy Meridja Echo Energy Bolivia (Op
Limited Co 1) UK Ltd
---------------------- --------------------------
Sound Energy Morocco Echo Energy Bolivia (Op
South Limited Co 2) UK Ltd
---------------------- --------------------------
Sound Energy Morocco Echo Energy Bolivia (Hold
East Limited Co 1) UK Ltd
---------------------- --------------------------
Sound Energy Holdings Echo Energy Bolivia (Hold
Italy Limited Co 2) UK Ltd
---------------------- --------------------------
Sound Energy Plc
---------------------- --------------------------
Apennine Energy SPA
---------------------- --------------------------
Echo Energy Plc
---------------------- --------------------------
Further information on Fiona MacAulay
Fiona Margaret Barkham, (former names: MacAulay, Oxley), aged 54, is or has been a director of the following companies in the last five years:
Current Directorships Previous Directorships
-------------------------- ---------------------------
Echo Energy Plc Rockhopper Exploration
(Petrochemicals) Limited
-------------------------- ---------------------------
Rockhopper Exploration Rockhopper Resources
Plc Limited
-------------------------- ---------------------------
Echo Energy Cdl Op Ltd Rockhopper Exploration
(Oil) Limited
-------------------------- ---------------------------
Echo Energy Ta Op Ltd Rockhopper Exploration
(Hydrocarbons) Limited
-------------------------- ---------------------------
Echo Energy Tapi Aike Rockhopper Croatia Limited
Ltd
-------------------------- ---------------------------
Echo Energy C D And Llc Rockhopper Mediterranean
Ltd Limited
-------------------------- ---------------------------
Echo Energy Argentina Rockhopper Civita Limited
Holdings Limited
-------------------------- ---------------------------
Echo Energy Bolivia (Op Desire Petroleum Limited
Co 2) UK Ltd
-------------------------- ---------------------------
Echo Energy Bolivia (Hold Falkland Oil and Gas
Co 1) UK Ltd Limited
-------------------------- ---------------------------
Echo Energy Bolivia (Op Rockhopper Exploration
Co 1) UK Ltd (Oil) Limited*
-------------------------- ---------------------------
Echo Energy Bolivia (Hold Rockhopper Egypt Pty
Co 2) UK Ltd Limited
-------------------------- ---------------------------
Echo Energy Holdings Rockhopper Italia SpA
(UK) LTD
-------------------------- ---------------------------
Independent Resources Malta Oil Pty. Ltd
(Ksar Hadada) Limited
-------------------------- ---------------------------
Independent Resources Melita Exploration Company
(Tunisia) Limited Limited
-------------------------- ---------------------------
Independent Resources
(Sahara) Limited
-------------------------- ---------------------------
*Incorporated in the Falkland Islands
Further information on Marco Fumagalli
Marco Fumagalli, aged 47, is or has been a director of the following companies in the last five years:
Current Directorships Previous Directorships
---------------------------- -----------------------
Sound Energy Plc Corin Italia S.R.L.
---------------------------- -----------------------
Protea Capital SA Terashop S.R.L..
---------------------------- -----------------------
Ministerium Capital SA Continental Investment
Partners SA
---------------------------- -----------------------
CIP Management SA No Paper Jam S.R.L.
---------------------------- -----------------------
Sherwood Holdings Limited
---------------------------- -----------------------
Corin Group Plc
---------------------------- -----------------------
Corin Italia SRL
---------------------------- -----------------------
Corin Orthopaedics Holdings
Limited
---------------------------- -----------------------
Ecommerce Outsourcing
SRL (Italy)
---------------------------- -----------------------
P101 Holding SPA
---------------------------- -----------------------
P101 SGR SPA
---------------------------- -----------------------
Echo Energy Plc
---------------------------- -----------------------
Ivy Merchant Capital
Limited
---------------------------- -----------------------
Italian Angels for Biotech
(IAB)
---------------------------- -----------------------
Shareholdings in the Company
None of James Parsons, Fiona MacAulay and Marco Fumagalli 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 +39 06 4201 4968 Sara Edmonson, CEO info@saffronenergy.co.uk Grant Thornton UK LLP (Financial & Nominated Adviser) +44 (0) 207 383 5100 Colin Aaronson Jen Clarke Harrison J Clarke Turner Pope Investments (TPI) Ltd (Broker) +44 (0)2036214120 Andy Thacker info@turnerpope.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOADBBDDCGBBGRB
(END) Dow Jones Newswires
December 12, 2017 02:01 ET (07:01 GMT)
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