FTO.L Regulatory News (FTO)

17 Aug 2006 07:01

Fortune Oil PLC17 August 2006 17 AUGUST 2006 FORTUNE OIL PLC ("Fortune Oil" or "the Company") Directorate Change Ms. Louisa Ho has decided to step down as Finance Director of the Company witheffect from 1 September 2006 due to family commitments. However, at theinvitation of the Board, she will remain as a Non-executive Director,particularly to assist on corporate governance issues. Mr. Sammy Ng will be promoted to the position of Group Financial Controller witheffect from 1 September 2006 and will be responsible for accounting and financein the Group. Mr. Ng joined Fortune Oil as Assistant Financial Controller in2001 and has been responsible to date for financial and management reporting.He is an Associate Member of ICAEW and Fellow Member of ACCA and HKICPA. He waspreviously with KPMG Management Consultancy and Ernst and Young audit practicein Hong Kong. Mr. Qian Benyuan, Chairman of Fortune Oil, commented: "Ms. Ho has been in the management team since the Company's listing in 1993 andwas appointed to the Board in June 2001. We are grateful for her considerablecontributions over the years. We respect her decision to step down to spendmore time with her family and the Board is pleased that she has agreed to remainwith the Company in the position of Non-executive Director." Enquiries: Fortune Oil PLCJohn Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong) Pelham Public RelationsArchie Berens Tel: 020 7743 6679 or 07802 442 486 This information is provided by RNS The company news service from the London Stock Exchange