LAM.L Regulatory News (LAM)

15 Sep 2008 07:54



 15 September 2008

LAMPRELL PLC

("Lamprell" or the "Company")

APPOINTMENT OF DIRECTORS 

Lamprell (ticker: LAM), a leading provider of specialist engineering services to the international oil & gas industry based in the UAE, is pleased to announce that the Directors yesterday have resolved to appoint Mr Colin Robert Goodall and Mr Brian George Fredrick as Non-Executive Directors of Lamprell.

Colin Goodall qualified as a chartered accountant and is a member of the Chartered Institute of Taxation. He spent most of his career in the upstream oil & gas industry with BP plc, where he joined the finance team in 1975, later becoming the first Chief of Staff within the BP Group. From 1995 to 1999 he served as Chief Financial Officer for BP Europe and then as BP's senior representative in Russia. His career has involved assignments in Africa, Middle East, Europe, Russia and the Americas. Colin's appointment took effect from 14th  September 2008. 

Brian Fredrick has been involved in the financial services industry since 1973. Brian worked in Dubai with HSBC in the 1980s and 1990s and has also been HSBC's Chief Executive Officer in Mauritius, the Philippines and Indonesia. He was subsequently appointed HSBC's Head of International for Asia-Pacific and most recently has been a Director of Techcombank, a joint-venture Vietnamese bank in which HSBC has a 20% stake. Brian's appointment will take effect from 1st January 2009. Upon appointment to the Board of Lamprell, Colin Goodall and Brian Fredrick are expected to join the remuneration, audit and nomination committees of Lamprell.

At the time of Colin Goodall's appointment 6,000 shares are held in trust on his behalf.

Brian Fredrick does not hold any shares in the Company. 

Speaking on the appointments, Peter Whitbread, Chief Executive Officer said: 

"We are delighted to welcome both Colin Goodall and Brian Fredrick to the Board of the Company. They bring with them a wealth of experience in oil & gas and banking which, we believe will assist Lamprell greatly in the proposed move of the Company to the Main Market of the London Stock Exchange plc."

Colin Goodall (age 64) is currently a Director of the following companies:

Company Position Date of Appointment

Dana Petroleum plc Non-executive Chairman June 2002

Asite plc Non-executive Chairman November 2004

Sindicatum Carbon Capital

Holding Limited Non-executive Chairman December 2005

Parkmead Group plc Non-executive Chairman January 2006

Brian Fredrick (age 56) is currently a Director of the following company:

Company Position Date of Appointment

Vietnam Technological and

Commercial Joint Stock Bank Director 19 August 2006

Brian Fredrick's previous Directorships were:

Company Position Date of Resignation

HSBC Investments (Hong Kong) Ltd Director 31 May 2007

HSBC Bank (Mauritius) Ltd Chairman 23 May 2007

Save as set out above, there are no other matters under Rule 17 or paragraph (g) of Schedule 2 of the AIM rules to be disclosed.

Enquiries:

Lamprell plc  +44 (0) 207 153 1547Peter Birch, Chairman

Peter Whitbread, Chief Executive Officer 

Scott Doak, Chief Financial Officer

Nigel McCue, Chief Operating Officer

David Moran, Director of Corporate Communications

JPMorgan Cazenove, London  +44 (0) 207 588 2828Malcolm Moir 

Nick Garrett

Laurence Hollingworth

M:Communications, London  Patrick d'Ancona +44 (0) 207 153 1547

Charlotte Kirkham +44 (0) 207 153 1531

Georgina Briscoe +44 (0) 207 153 1548

Notes to editors

Lamprell, based in the UAE, has played an increasingly prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years, in later years providing specialised services to the offshore oil and gas industry. 

Lamprell's three primary facilities are in Port Khalid and the Hamriyah Free Zone, in the Emirate of Sharjah, and in the Jebel Ali Free Zone, in the Emirate of Dubai, all of which are in the UAE.

The principal markets in which Lamprell operates, and the principal services it provides, are: