Lekoil Ltd - oil and gas exploration and production company focused on Nigeria and West Africa - Says Olapade Durotoye becomes non-executive chair, Guy Oxnard becomes an executive director and Dipo Sofola a non-executive director. Says appointments part of managed succession planning in which Anthony Hawkins and Al Tindall will each cease being directors at end of June.
Hawkins says Durotoye is "well placed to guide the company in the recovery of its investments in Lekoil Nigeria."
Adds: "Oxnard brings over 25 years of legal and commercial experience to the company and is well placed to assist in the administration of the company, having advised the company since September 2021 on a number of matters...As previously disclosed, the company's arrangements with Savannah Energy Investments Limited permit it to appoint a director to the board of the company and we welcome Mr Sofola's appointment as we believe he will contribute a depth of sector knowledge and practical experience."
Current stock price: 1.05 pence
By Lucy Heming; lucyheming@alliancenews.com
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