Last checked at 24 Jan 2018 07:00
Oracle Power PLC
24 January 2018
ORACLE POWER PLC
("Oracle" or the "Company" or the "Group")
BOARD CHANGES
Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the "Project"), today announces, with immediate effect, the retirement as Interim Chairman of Mr Anthony Scutt, and the appointment in his place of Mr Mark Steed, currently a non-executive director. It is the intention to appoint a permanent chairman following financial close, at which point the Board will further consider its composition to meet the challenges going forward. Mr Scutt remains a non-executive Director and resumes his role as Senior Independent Director
The Board places on record its appreciation and thanks for Mr Scutt's valued service as Interim Chairman and looks forward to his continued contribution as a Director.
The Board further welcomes Mr Steed as Interim Chairman and looks forward to working together with him in the coming months through to financial close of Thar Block VI.
For further information please contact:
Oracle Power PLC Shahrukh Khan
| +44 (0) 203 580 4314 |
Brandon Hill Capital Limited Oliver Stansfield
| +44 (0)203 463 5000 |
Peterhouse Corporate Finance Charles Goodfellow
| +44 (0) 207 220 9791 |
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat
| +44 (0) 207 383 5100 |
Blytheweigh Tim Blythe, Camilla Horsfall, Megan Ray
| +44 (0) 207 138 3204 |
Fortbridge Consulting Matt Beale, Bill Kemmery | +44 (0)7966 389196 |