LONDON (Alliance News) - Wentworth Resources PLC on Friday said it shares will be re-admitted on London's AIM market, as the east-Africa focused gas explorer re-aligned its board following re-domiciliation in Jersey.
Wentworth Resources has changed its ticker to WEN from WRL following re-admission to AIM market.
To ensure the company is in line with governance codes, Bob McBean will move to non-executive chairman from executive chairman role effective at the start of 2019.
Cameron Barton and Neil Kelly will resign from the board. Barton will remain in his position until the end of March 2019, whilst Kelly will leave immediately.
Tim Bushell is to be appointed chair of the remuneration committee and Iain McLaren will be appointed chair of the audit committee, both appointments will proceed with immediate effect.
"On behalf of the board, I would specifically like to thank Cam and Neil for their longstanding service and major contributions to the company to date. I am also hugely appreciative of Cam's continued support and assistance through this transition period for the company," said Chairman McBean.
He continued: "We have an ambitious domestic gas-led east African focused strategy to deliver material shareholder value, organically from our core gas producing asset, Mnazi Bay, and inorganically through an merger & Acquisition led growth mandate. The new board members bring the requisite skills and expertise to contribute significantly to our aspiration of becoming a mid-tier African focused exploration & production company."
