4 Jan 2023 07:00
4 January 2023
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IGas Energy plc (AIM: IGAS)
("IGas" or the "Company")
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Board Change - Appointment of Non-executive Director
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IGas is pleased to announce that Doug Fleming has accepted an invitation to join the Board of IGas as an Independent Non-executive Director with immediate effect. Doug will be a member of the audit committee.
Doug was most recently Chief Financial Officer at private equity backed Siccar Point Energy, an E&P company with assets in the UK sector of the North Sea. Doug was part of the team that founded the business in 2014. Siccar Point Energy went from start-up in 2014 to production of c.9,000 boepd (2021) before being sold to Ithaca Energy in 2022 for a consideration of up to $1.46bn.
Prior to Siccar Point Energy, Doug held senior roles at Centrica Energy E&P and Venture Production plc.
Commenting Chris Hopkinson, Interim Executive Chairman said:
"I am delighted we have brought in someone of Doug's calibre and experience to the Board. Doug brings senior expertise drawing on 27 years' working in E&P, corporate banking and venture capital."
Doug Fleming added:
"I am very pleased to be joining IGas and bringing my experience to the team. It is an exciting time for the company - the company's cash generative oil and gas production gives it an excellent platform from which to drive its growing geothermal business."
Additional information:
Douglas Weir Fleming, aged 52, holds no shares in IGas Energy plc. He has been a director or partner of the following companies or partnerships during the five years preceding the date of the announcement:
Current directorships: | Past directorships (last five years) |
None | Ithaca SP (Holdings) Limited - previously known as Siccar Point Energy Holdings Limited Ithaca SP Finance Limited - previously known as Siccar Point Energy Finance Limited Ithaca SPE Limited - previously known as Siccar Point Energy Limited Ithaca SP Bonds PLC - previously known as Siccar Point Energy Bonds PLC Ithaca SP E&P Limited - previously known as Siccar Point Energy E&P Limited Ithaca SP O&G Limited - previously known as Siccar Point UK Limited |
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Save as set out in this announcement, there are no further details to be disclosed under Rule 17 or Schedule 2(g) of the AIM Rules for Companies in respect of Mr Fleming.
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For further information please contact:
IGas Energy plc Tel: +44 (0)20 7993 9899
Ann-marie Wilkinson, Chief Communications Officer
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Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970
Virginia Bull/Chris Sim
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Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/James Asensio
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Vigo Consulting Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Finlay Thomson/Kendall Hill