LONDON (Alliance News) - Angus Energy PLC on Tuesday announced several changes to its management team and board of directors, after the withdrawal of a requisition notice initially received earlier in January.
The oil & gas company said that Managing Director Paul Vonk resigned with immediate effect. He was replaced by George Lucan which was appointed to the board as interim managing director.
The company received notice of the withdrawal of the requisition request, from HSBC Global Custody Nominee UK Ltd and Jarvis Nominees Ltd, demanding the removal of Vonk. Together, they make up 6.2% of the company's shares.
Furthermore, Angus agreed to appoint Carlos Fernandes, currently non-board chief financial officer, as Finance Director.
The firm is also "actively working" on the appointment of an independent non-executive chairman, at which point it is expected that Cameron Buchanan, currently acting chairman, will resume his role as a non-executive director.
It is also intended to appoint to the board Andrew Hollis, currently the company's chief technical officer.
Angus Energy shares were trading down 12% at 7.30 pence each.
Angus Energy (ANGS)