LONDON (Alliance News) - San Leon Energy PLC said it has appointed a new nominated advisor and two joint brokers late Friday, adding one of its non-executive directors has also resigned.
The company said it has appointed SP Angel Corp Finance LLP as its new nominated advisor. In addition, San Leon has appointed SP Angel and Whitman Howard Ltd as joint brokers, sitting alongside existing broker Brandon Hill Capital Ltd.
The appointment of a new nominated adviser follows on from San Leon's decision to terminate its contract with former adviser, Stockdale Securities Ltd, claiming the advisor breached its contract.
Non-Executive Director Piotr Rozwadowski has also resigned with immediate effect.
San Leon shares are currently suspended and will remain suspended as it is in the process of completing which involves acquiring Mart Resources Inc.
"The acquisition, if completed, will constitute a reverse takeover under Rule 14 of the AIM rules. Accordingly, the company's shares will remain suspended from trading on AIM, pending either the publication of a re-admission document or confirmation that the acquisition is not proceeding," said San Leon.
"Proposed board appointments to strengthen the board will be announced at the same time as the publication of the AIM re-admission document," the company added.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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San Leon (SLE)