4 May 2018 17:17
4 May 2018
Nighthawk Energy plc ("Nighthawk" or the "Company")
Directorate Change
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces the appointment of Drew McManigle as Non-Executive Director of the Company, with immediate effect.
Mr McManigle is a Managing Director and Southwest Regional Head of SierraConstellation Partners, LLC ("SCP") in its Houston, Texas office. He also leads SCP's oil & gas practice. SCP is a Los Angeles based interim management, financial advisory and restructuring advisory firm. Mr McManigle brings with him over 25 years of experience in providing interim-leadership, financial advisory and fiduciary services to companies facing operational or financial challenges, including business restructuring, particularly in companies undergoing Chapter 11 proceedings in the US. He typically serves as an interim executive officer such as CEO or Chief Restructuring Officer, or is selected or appointed, as a Receiver, Assignee in Delaware assignment for the benefit of creditor matters, post chapter 11 reorganization plan Liquidating or Litigation Trustee and similar roles. He will assist the other Directors in addressing the financial challenges of the company, that includes a proposed sale of oil and gas assets under Section 363 of the US Bankruptcy Code, or other restructuring alternatives.
Following the appointment of Mr. McManigle, Mr. Stuart Eaton, Non-Executive Director, has stepped down from the Board, effective immediately. The Board thanks Mr. Eaton for his service and wishes him the best with his future endeavours.
Enquiries:
Nighthawk Energy plc |
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Rick McCullough, Chairman | +1 303 407 9600 |
Chris Kohler, Interim Chief Financial Officer | +44 (0) 20 3582 1350 |
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Stockdale Securities Limited | +44 (0) 20 7601 6100 |
Richard Johnson |
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Edward Thomas |
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The following information is disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM rules for Companies.
Mark Drew McManigle (61) is or has been a director or member during the last five years of the following companies or partnerships:
Current Previous (last 5 years)
- The McManigle Company
In the provision of interim leadership and restructuring services, Mr McManigle has previously served as an officer, director, assignee or other responsible party role at a number of companies which have subsequently entered administration or been liquidated or entered into arrangements with creditors during his appointment (or within twelve months subsequent to the end of his appointment)
- In January 2015 he was appointed Assignee of SR 2020, an energy seismic service company, in a State of Delaware assignment for the benefit of creditors case. The sale of assets and liquidation was completed by December 2015.
- In January 2014, he was selected as Interim President of Joe Corbi Wholesale Pizza, Inc. a financially troubled food manufacturer in Baltimore, MD. The company failed and was closed in March 2015.
- In May 2014 he was appointed Assignee, of the Défense Venture Group, Ltd. and its subsidiaries and affiliates (Indigen Armor, Armorline Corp., Dynamic Runflats, Inc. and DVG Real Estate Holdings) in 5 separate State of Delaware assignment for the benefit of creditors cases. The sale of assets and liquidation was completed by July 2015.
- In March 2009, he served as Chief Restructuring Officer of Jane & Co., Inc and Jane & Co., LLC, cosmetics providers, to lead a US chapter 11 case resulting in a successful sale of the company under Section 363 of the US bankruptcy code.
- In February 2009 he was appointed Assignee of Eladyrrech, LLC, f/k/a/ Cherrydale Fundraising in a State of Delaware assignment for the benefit of creditors case. The sale of assets, recoupment of revenues, liquidation and distribution to creditors was completed by March 2014.
- In 2002 he was bought in as a director of Archibald Candy Corporation, to assist with the company's operations post-Chapter 11 reorganization. Subsequently, the company under-performed and the reorganization failed. The company was subsequently sold and liquidated in a separate US bankruptcy proceeding.
- In April 2001 he was appointed Assignee of MMH Media Holdings Inc and its subsidiaries in a State of Delaware assignment for the benefit of creditors case. The sale of assets and liquidation was completed by July 2015.
Mr McManigle has no shareholding in the Company.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).