8 Mar 2017 17:57
8 March 2017
Ophir Energy PLC
("Ophir" or the "Company")
Changes to Senior Independent Director and Board Committee
Change in Senior Independent Non-Executive Director
Ophir announces that Mr. Ronald (Ron) Blakely will retire from both the Board and from his role as Senior Independent Non-Executive Director with effect from 31 March 2017. Mr Blakely has been a Non-Executive Director of the Company since July 2011 and during that time he has served as the Senior Independent Non-Executive Director, the Chairman of the Audit Committee as and a member of Nomination and Remuneration Committees.
At that date Dr Carol Bell will be appointed as Senior Independent Non-Executive Director. Dr Bell has served as an independent Non-Executive Director since March 2015 and will continue to serve as Chairman of the Corporate Responsibility Committee as well as a member of the Audit and Nomination Committees.
Change of Board Committee
On the recommendation of the Technical Advisory Committee on 8 March 2017, the Board approved the establishment of a new formalised Board committee to be known as the Technical and Reserves Committee ("TR Committee") with immediate effect.
This new committee will replace the Technical Advisory Committee and will support the Board and the Audit Committee by reviewing, monitoring and assessing the Company's approach to and management of reserves data and will evaluate the effectiveness of the technical and subsurface assurance processes. The Board deems this change appropriate given that the Company has matured in recent years and now reports reserves and resources.
The Technical and Reserves Committee will be chaired by Alan Booth. Other members of this Committee are Bill Schrader, Dr Nick Cooper, Dr Bill Higgs and Dr Carl Trowell.
The Technical and Reserves Committee will meet at least two times per year and at such other times as required.
The Committee's terms of reference will be available on the Company's website at www.ophir-energy.com
Commenting Bill Schrader, Chairman of Ophir Energy said:
"On behalf of the Board, I would like to thank Ron for his long service and outstanding contribution to Ophir since its IPO in 2011. It has been a pleasure to work alongside him and we wish him well in his future endeavours.
I would also like to congratulate Carol on her appointment to the role of Senior Independent Non-Executive Director. She will be an excellent conduit for shareholders and other stakeholders."
This announcement is in conformity with Listing Rules 9.6.11R and 9.6.13R.
For Further Information please contact:
Ophir Energy plc +44 (0)20 7811 2400
Philip Laing, General Counsel & Company Secretary