RPT.L Regulatory News (RPT)

21 Jul 2008 13:09



REGAL PETROLEUM PLC

("Regal" or "the Company")

Appointment of Non-Executive Director

Regal Petroleum (AIM: RPT), the independent oil & gas exploration and production company with interests in Ukraine, Romania and Egypt, is pleased to announce the appointment of Mr Adrian John Geoffrey Coates as a Non-Executive Director of the Company with effect from 18 July 2008.

Mr Coates (aged 50) has many years experience in the investment banking industry, having recently resigned from HSBC Bank Plc after 10 years, latterly as Global Sector Head, Resources and Energy Group, Global Banking and Markets Division. He has also held senior roles in UBS, Warrior International and Credit Suisse First Boston with a specialisation in the natural resources sector. His City experience is extensive and he has advised on many substantial corporate transactions. He holds an MA (Econ) from Cambridge University and an MSc (MBA) from London Business School.

The Board of Regal now comprises the following directors:-

Keith Henry (Chairman)

David J Greer (Chief Executive Officer)

Harry Verkuil (Chief Operating Officer)

Robert Wilde (Finance Director)

Lord St. John of Bletso  (Non-Executive Director)

Antonio Mozetic (Non-Executive Director)

Adrian Coates (Non-Executive Director)

Mr Keith Henry, Chairman of Regal, said:

"We welcome Adrian to the Board. His many years of banking and City experience will be invaluable to us as we continue to implement our development and transformation plans. The depth and breadth of Adrian's experience is extensive and we are confident that he will serve and assist us well in our continued corporate development."

On appointment Mr Coates has been granted 250,000 options over ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Regal Petroleum Share Option Scheme. Such share options have an exercise price of £1.9125 and are exercisable (i) as to 83,334 on Mr Coates remaining a Non-Executive Director on 18 July 2009, (ii) as to 83,333 on Mr Coates remaining a Non-Executive Director on 18 July 2010, and (iii) as to 83,333 on Mr Coates remaining a Non-Executive Director on 18 July 2011. Under the provisions of the Company's Share Option Scheme, these options will lapse 10 years after the date of grant, unless previously lapsed or exercised.

Other than the abovementioned share options, Mr Coates has no interest in Ordinary Shares in the Company.

There is no information in relation to the appointment of Mr Coates which is required to be disclosed pursuant to Rule 17 of the AIM Rules for Companies.

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