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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
Disclosure of inside information in accordance with Article 17 of Regulation (EU) 596/2014 (16 April 2014) relating to Nostrum Oil & Gas PLC and Zhaikmunai LLP
Amsterdam, 17 November 2017
Board Changes
Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, is pleased to announce the appointment by the Board on 16 November 2017 of: (i) Mr Simon Byrne as a Non-Executive Director and (ii) Mr Martin Cocker as an Independent Non-Executive Director, with effect from 16 November 2017. Mr Cocker will also become a member of the Audit Committee.
Mr Byrne succeeds Mr Pankaj Jain, who steps down from the Board of the Company with effect from 16 November 2017, as the representative of Mayfair Investments B.V., the Company's largest shareholder. Mr Jain has been appointed as an Alternate Director who may act for Mr Byrne in his absence with effect from the same date.
Mr Byrne is the Chief Executive Officer of Steppe Capital Pte Ltd, an investment holding company and international family office based in Singapore. Steppe Capital holds an indirect interest in Nostrum through Mayfair Investments. Prior to joining Steppe Capital in 2008, Mr Byrne worked in corporate and investment banking for 22 years, including 17 years with ABN AMRO Bank and RBS Global Banking & Markets where he served as a Managing Director covering the oil & gas sector. Prior to that he held positions with Asahi Bank and Manufacturers Hanover Limited.
Mr Cocker is a chartered accountant with over 30 years' business experience. He has held several line management, project leader and CEO level positions and currently is an Independent Non-Executive Director and chairman of the audit committee at Etalon Group PLC and TCS Group Holdings PLC, both of which are Russia-based entities listed on the London Stock Exchange, at a UK National Health Service Foundation Trust and at a UK Building Society. Mr Cocker is a member of the investment committee of Pride Capital, and previously held senior positions with Deloitte & Touche, KPMG, Ernst & Young and Amerada Hess.
Mr Atul Gupta, Nostrum's Chairman, commented: "We are delighted to strengthen Nostrum's Board by welcoming Simon and Martin as a Non-Executive Director and Independent Non-Executive Director, respectively. Their combined years of extensive business experience and strong backgrounds in the oil and gas and financial services sectors will further reinforce Nostrum's position as a leading independent exploration and production company.
We also wish to thank Mr Pankaj Jain for his contribution to the Company during his five years as a Non-Executive Director on Nostrum's Board. We are pleased that we will be able to continue to draw on his expertise while he maintains his relationship with the Company through his role as Alternate Director."
The Company confirms that for the purposes of paragraph 9.6.13(1) of the Listing Rules of the UK Listing Authority (the "Listing Rules") Mr Cocker is currently a director of the following publicly quoted companies:
· Etalon Group PLC
· Tinkoff Credit Systems Group Holdings
Mr Cocker does not hold any other directorships in any other publicly quoted companies and has not done so at any time in the previous five years.
The Company confirms that there is no other information regarding Mr Byrne, Mr Cocker or Mr Jain that must be disclosed under paragraph 9.6.13 of the Listing Rules.
LEI: 2138007VWEP4MM3J8B29
Further information:
For further information please visit www.nog.co.uk
Further enquiries:
Nostrum Oil & Gas PLC - Investor Relations
Kirsty Hamilton-Smith
Amy Barlow
ir@nog.co.uk
+ 44 (0) 203 740 7430
Instinctif Partners - UK
David Simonson
Laura Syrett
George Yeomans
+ 44 (0) 207 457 2020
Promo Group Communications - Kazakhstan
Asel Karaulova
+ 7 (727) 264 67 37
Notifying person
Thomas Hartnett
Company Secretary
About Nostrum
Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye field.
Forward-Looking Statements
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Group or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.
No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.