Afentra Plc. Regulatory News (AET)

13 June 2023

AFENTRA PLC

Board Appointment

Afentra plc ('Afentra' or the 'Company') is pleased to announce the appointment of Mr Thierry Tanoh to its Board as Independent Non-Executive Director and Chairman of the audit committee.

Mr Tanoh, aged 61, is an experienced senior director with global experience, a strong track record in both public and private sectors, and has held senior positions within African Government ministries. Mr Tanoh's relevant experience includes various roles within International Finance Corporation (IFC), including being Vice President within the Senior Executive Team and a member of IFC's credit committee based in Washington, and Director of Sub-Saharan Africa based in Johannesburg.

Following 12 years with IFC, Mr Tanoh was appointed as CEO of Ecobank Group, a pan-African banking conglomerate with banking operations in 33 African countries. Following his departure in 2014, Mr Tanoh was appointed a member of the office of the President of the Republic of Cote d'Ivoire, serving initially as Minister, Deputy Chief of Staff before being appointed as Minister for Oil, Energy and Renewable Energies between 2017-18.

Mr Tanoh presently has a number of Director roles including as Non-Executive Director, Vice Chairman of the Board of Directors and Chairman of the Investment Committee of Maha Capital Partners, an investment management company, Chairman of the Board of Directors of a Mortgage Refinancing institution and was recently appointed to the President's Council on International Affairs of Yale University. 

Mr Tanoh is a Certified Public Accountant (CPA, France), was awarded the Fulbright Scholarship and received an MBA from Harvard University, and was awarded the World Bank Group Leadership and Diversity Award in 2006.

Commenting on the appointment, Jeffrey MacDonald, Non-Executive Chairman of Afentra, said:

"We are delighted to welcome Thierry to Afentra's Board and look forward to benefitting from his considerable experience across many relevant roles within finance and government. The appointment of such a heavy-weight candidate reflects Afentra's strong ambition to build a material and credible player within the African energy sector as we seek to play an important role in a responsible energy transition across the continent. This appointment also reflects Afentra's commitment to Governance as we ensure we maintain the appropriate level of experience and independence on the Board to act on behalf of our shareholders."

Commenting on his appointment, Thierry Tanoh said:

"I am delighted to take up this role with Afentra and support the Company with my insights learned from decades of senior roles within Finance and Government across Africa and beyond. Afentra's purpose to support the African energy transition and enable the continued economic and social development of African economies is a shared passion and I believe Afentra's team have all the ingredients required to play a meaningful role in that agenda over the coming years."

Regulatory

The following information is disclosed under Rule 17 of the AIM Rules for Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

Thierry Andre Nicolas Yao Tanoh (aged 61)

Mr Tanoh does not hold any ordinary shares nor options over ordinary shares in the Company.

There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Thierry Andre Nicolas Yao Tanoh.

For further information contact:

Afentra plc +44 (0)20 7405 4133

Paul McDade, CEO

Anastasia Deulina, CFO

Buchanan (Financial PR) +44 (0)20 7466 5000

Ben Romney

George Pope

Peel Hunt LLP (Nominated Advisor and Joint Broker) +44 (0)20 7418 8900

Richard Crichton

Paul Gillam

David McKeown

Tennyson Securities (Joint Broker) +44 (0)20 7186 9033

Peter Krens

About Afentra

Afentra plc (AIM:AET) is an upstream oil and gas company focused on opportunities in Africa. The Company's purpose is to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments. Afentra has 4% non-operated interests in the producing Block 3/05 and adjacent development Block 3/05A offshore Angola in the Lower Congo Basin. In addition, Afentra maintains a carried interest in the Odewayne Block, onshore southwestern Somaliland.