10 Sep 2010 10:23
PetroNeft Resources plc
("PetroNeft" or the "Company")
Board Appointment
PetroNeft Resources plc (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce the appointment of Gerard (Gerry) Fagan as an Independent Non-Executive Director of the Company.
Mr. Fagan, aged 61, previously worked with Smurfit Kappa Group plc ("Smurfit Kappa") for 23 years before his retirement as Group Financial Controller in September 2009. During this time he had global responsibility for controlling the financial operations of Smurfit Kappa, a company with turnover of €7 billion and operations in over 30 countries worldwide.
Mr. Fagan has vast experience in mergers and acquisitions, corporate finance, accounting, taxation, insurance and corporate governance. He is both a Chartered and Chartered Certified Accountant and has previously served on the audit committee of the Institute of Chartered Accountants in Ireland.
Mr. Fagan will also join both the Audit and Remuneration Committees of PetroNeft.
Other than the current and previous directorships disclosed at Appendix 1 below there are no further matters in connection with the appointment of Mr. Fagan to be disclosed pursuant to Schedule Two, paragraph (g), of the AIM and ESM Rules for Companies.
David Golder, Chairman of PetroNeft Resources plc, commented:
"We are delighted to welcome Gerry to the Board of Directors and look forward to working with him. He brings a wealth of experience in the finance arena which complements the current Board."
For further information, contact:
| Dennis Francis, CEO, PetroNeft Resources plc | +1 713 988 2500 |
| Paul Dowling, CFO, PetroNeft Resources plc | +353 1 443 3720 |
| John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)
| +353 1 679 6363 |
| Henry Fitzgerald-O'Connor/Filip Bavenholm, Canaccord Genuity Limited (Joint Broker)
| +44 207 050 6500 |
| Martin Jackson, Citigate Dewe Rogerson | +44 207 638 9571 |
| Joe Murray/Joe Heron, Murray Consultants | +353 1 498 0300 |
Appendix 1
Mr. Fagan, aged 61, is or has been a director of the following companies and organisations during the past five years:
| Current directorships:
| Previous directorships (last 5 years):
|
| PetroNeft Resources plc | Various Subsidiaries of Smurfit Kappa: |
| Liffey Reinsurance Company Limited | L.A. Services Limited |
| Various Subsidiaries of Smurfit Kappa: | S.A. Services Limited |
| Arlonberg Limited | DLRS (Holdings) Limited |
| Badcall Limited | DLRS Limited |
| Belgray Holdings | Kappa Holding B.V. |
| Belguard Insurance Limited |
|
| Bishopbriggs Limited |
|
| Borden Properties Limited |
|
| Brenchley Limited |
|
| Carton de Venezuela, S.A. |
|
| Central Waste Paper Company Limited |
|
| Chacala Limited |
|
| Chambers Edwards Limited |
|
| Claystoke Limited |
|
| Damous Limited |
|
| Daoura Limited |
|
| DLRS (Holdings) Limited |
|
| DLRS Limited |
|
| Fibras Limited |
|
| G.H. Sales Limited |
|
| Gillridge Holdings Limited |
|
| Gorda Limited |
|
| Gweebara Limited |
|
| Headley Holdings |
|
| Industrias Almac, C.A. |
|
| Iona Print Limited |
|
| Irish Carton Printers Limited |
|
| J.S. Publications Limited |
|
| Jefferson Smurfit & Sons Limited |
|
| Killeen Corrugated Products Limited |
|
| King Robert Limited |
|
| Kufpent Limited |
|
| Margrave Investments Limited |
|
| Packaging Finance N.V. |
|
| Papco Overseas Limited |
|
| Queen Mathilda Limited |
|
| Richview Properties Limited |
|
| S.C. Limited |
|
| S.G.H. Limited |
|
| S.I. Holdings Limited |
|
| S.M. Finance Limited |
|
| Sandlee Investments Limited |
|
| Sminho Limited |
|
| Smurfit Corrugated Ireland |
|
| Smurfit Corrugated Research Limited |
|
| Smurfit Holdings Limited |
|
| Smurfit International Limited |
|
| Smurfit Investments (Ireland) Limited |
|
| Smurfit Investments UK Limited |
|
| Smurfit Job Creation Enterprise Fund Limited |
|
| Smurfit Kappa Acquisitions |
|
| Smurfit Kappa Corporation Limited |
|
| Smurfit Kappa Funding plc |
|
| Smurfit Kappa Holdings Limited |
|
| Smurfit Kappa Investments Limited |
|
| Smurfit Kappa Ireland Limited |
|
| Smurfit Kappa Irish Paper Sacks Limited |
|
| Smurfit Kappa News Press Limited |
|
| Smurfit Kappa Packaging Limited |
|
| Smurfit Kappa Recycling Ireland Limited |
|
| Smurfit Kappa Services Limited |
|
| Smurfit Management Services S.A.M. |
|
| Smurfit Natural Resources Limited |
|
| Smurfit Packaging Limited |
|
| Smurfit Publications Limited |
|
| Smurfit Securities Limited |
|
| Smurfit UK Limited |
|
| Smurfit Venture Capital Management Services Limited |
|
| Smurfit Venture Investments Limited |
|
| Smurfit Web Research Limited |
|
| TMG Limited |
|
| Trans-Pack Cases Limited |
|
| Trinmills Limited |
|
| Wilshaw Investments Limited |
|
| Woodfab Cork Limited |
|
| Woodfab Limited |
|