13 Feb 2014 07:00
Northern Petroleum Plc
("Northern" or "the Company")
Appointment of Non-executive Director
Northern (AIM: NOP) is pleased to announce that Iain Lanaghan has been appointed as a non-executive director of the Company. Iain is an experienced public company director whose most recent position in the exploration and production industry was with AIM quoted Faroe Petroleum plc ("Faroe"). Iain was Finance Director of Faroe for four years between 2009 and 2013 where he led the finance function during a period of significant growth and development. With this appointment Northern has completed the restructuring of its board which now comprises of three executive and three non-executive directors with a broad range of expertise and experience.
Iain has extensive experience across the upstream oil and gas and transport sectors. As a qualified accountant Iain has managed the finance functions of both public and private companies in the UK and Europe. Iain's career has included the positions of Group Finance Director of FTSE250 FirstGroup plc, Group Finance Director of oilfield services business Atlantic Power Group Ltd, and CFO of Abellio GmbH a private equity backed German public transport company. He is a founder and non-executive chairman of MET (Metropolitan European Transport) plc.
Iain holds an MA in Economics and Accounting from the University of Edinburgh and is a member of the Institute of Chartered Accountants of Scotland.
Keith Bush, Chief Executive Officer of Northern, commented:
"We are pleased to have Iain join us as non-executive director. Iain has great expertise in the financial aspects of growing an E&P business and will bring a wealth of experience in the interaction with the equity and debt markets. He is well respected within the E&P industry and the investment community and we believe his skill set will complement the board very well."
Iain Lanaghan, whose full name is John Malcolm Lanaghan, is aged 58 and has no interest in the Company's shares. Mr Lanaghan is or has been a director or member of the following companies or partnerships during the last five years:
Current Directorships | Previous Directorships |
Metropolitan European Transport plc | Faroe Petroleum plc
|
Transport Investment Limited | Faroe Petroleum (UK) Limited
|
Faroe Petroleum (Energy) Limited | |
Faroe Petroleum SIP Employee Benefit Trust Limited | |
Transport Investment Limited | |
Faroe Petroleum Norge AS (Norway) | |
Faroe Petroleum (2010) Limited (Jersey) | |
Foroya Kolventi pf (Faroe Islands) | |
Greenland Oil Company AS (Greenland) |
Other than the information set out above there is no other information required to be disclosed in connection with the appointment of Mr Lanaghan under AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies.
-Ends-
For further information please contact:
Northern Petroleum Plc Tel: +44 (0)20 7469 2900
Keith Bush, Chief Executive Officer
Nick Morgan, Finance Director
Westhouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100
Richard Baty, Corporate Finance
FTI Consulting Tel: +44 (0)20 7831 3113
Edward Westropp, Shannon Brushe
Note to Editors:
Northern is an oil and gas company currently holding licences in countries of relatively low political risk and is continuing with its strategy of adding and securing value for shareholders as it enters into projects at all stages of the exploration and production value chain. Comprehensive information on Northern and its oil and gas operations, including press releases, annual reports and interim reports are available from Northern's website: www.northernpetroleum.com.