18 Mar 2010 11:55
18 March 2010
Great Eastern Energy Corporation Limited
Appointment of Non-Executive Director
Great Eastern Energy Corporation Limited ("Great Eastern"), a company involved in the exploration, development and production of coal bed methane in India, is pleased to announce that Mr. Ashok Jha, aged 62 years, has been appointed to the Board of Great Eastern as a Non-Executive Director with immediate effect.
Mr. Ashok Jha has previously spent 38 years in the Indian civil services, where he held key positions within the State and Central Government apparatus, including two years within the Finance Ministry, first as Secretary, Economic Affairs and later as Finance Secretary. Prior to working within the Finance Ministry, Mr. Jha served as the Secretary, Department of Industrial Policy and Promotion and headed Foreign Investment Promotion Board (FIPB). He was also Advisor, International Affairs, Federation of Indian Chambers of Commerce & Industry (FICCI).
After retiring from the Government, Mr. Jha served as the Executive President of Hyundai Motor India Ltd. for two years and in August 2009 joined MCX Stock Exchange Limited, an affiliate of Financial Technologies India Limited, as Chairman.
An avid golfer, Mr. Jha graduated from St. Stephen's college, New Delhi, in Economics and went on to gain a Masters from the Delhi School of Economics. He also holds a Masters degree in Development Economics.
YK Modi, Chairman and CEO of Great Eastern, commented:
"Mr. Jha will make a significant contribution to the board of Great Eastern. His background in Government and commerce will be an additional support while taking strategic decisions. We are delighted he has agreed to join the board of Great Eastern and very much look forward to working with him towards achieving the Company's corporate goals".
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For Further Information:
Great Eastern Energy
YK Modi Chairman & CEO +44 (0)20 7337 1516
Prashant Modi President & COO
Arden Partners
Richard Day +44 (0)20 7614 5900
Adrian Trimmings
RBC Capital Markets
Martin Eales +44 (0)20 7653 4000
Brett Jacobs
Pelham Bell Pottinger
Philip Dennis +44 (0)20 7337 1516
Elena Dobson +44 (0)20 7337 1517
In accordance with Paragraph (g) of Schedule 2 of the AIM Rules, further information in relation to Ashok Jha 's appointment is set below.
Current positions held:
1. Setco Automotive Limited - Independent Director
2. Sumel Housing Finance Private Limited - Director
3. MCX Stock Exchange Limited - Non Executive Chairman
4. HSBC AMC Limited - Director
5. SV Creditline Private Limited - Non Executive Chairman
Historic positions in the last 5 years:
1. July 2004 to June 2005 - Secretary to the Government of India in the Department of Industrial Policy and Promotion
2. July 2005 to May 2007 - Secretary to the Government of India in the Department of Economic Affairs, Ministry of Finance and Finance Secretary.
3. August 2007 to August 2009 - President of Hyundai Motor India Limited
Mr. Jha holds no shares or GDRs in Great Eastern.
There are no further disclosers to be made in accordance with Paragraph (g) of Schedule 2 of the AIM Rules.