The board of Matra Petroleum plc announces that Peter Hind has resigned as a director of the Company with immediate effect to pursue his other interests. The board wishes to thank Peter for his substantial contribution and leadership of the business over the years since he joined the Company.
Peter will remain an employee of Matra until 31 May, to help effect an orderly handover of his responsibilities, at which point he will leave the Company.
The board of Matra is very pleased to announce the appointment of Maxim Barskiy as Chief Executive of the Company with immediate effect. Mr Barskiy recently subscribed £4.6 million new equity into Matra and on 14 May 2012 joined the board as a non-executive director. The board looks forward to working closely with Maxim Barskiy in formulating and then implementing a wide reaching strategy for the Company. The board continues to consider its senior management organisation and expects to announce further appointments within the Company as they are confirmed.
Sir Michael Jenkins, Chairman of Matra, commented:
"On behalf of the Matra board, I would like to extend our sincere thanks to Peter for his dedication and running of the Company and, very recently, also for him introducing new investment into Matra, by way of the £4.6 million subscription from Maxim Barskiy. We wish Peter all the very best in the pursuit of his future business interests.
I and my fellow directors at Matra extend a warm welcome to Maxim Barskiy as Matra's new CEO, and value his long experience in the energy sector. We much look forward to working closely with Maxim over the development of the company, within Russia and internationally."
For further information, please contact:
Matra Petroleum plc c/o Pelham Bell Pottinger
+44 (0) 20 7861 3169
Fox-Davies Capital Limited
Barry Saint (Nominated Adviser)
Daniel Fox-Davies/ Richard Hail
+44 (0) 203 463 5010
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