STA.L Regulatory News (STA)

6 April 2023

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

DIRECTOR APPOINTMENT

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to announce the appointment of Dr. Meng YuFeng, the nominee of Beijing Sibo Investment Management LP ("Sibo"), as an Non-Executive Director to the Board with immediate effect.

The appointment is made pursuant to para. 7.1 (a) of a subscription agreement signed in 2015, with Sibo's contractual right to appoint up to three nominee directors to the Board of the Company whilst it has a shareholding of above 10%. Pursuant to the subscription agreement, the nominee director is admitted to the Board until the next annual general meeting of the Company, at which time the nominee director will be subject to election by shareholders of the Company. 

Dr. Meng's career spans over 30 years across the US, Australia, Hong Kong, and China where she held various leadership, management and consulting roles in different sectors including education, aircraft tyre logistics, waste management, real estate, equity investment, banking and Free Trade Zone management and marketing. Dr. Meng has experience in the public sector, project management and finance (particularly in Build-operate-transfer (BOT) or build-own-operate-transfer (BOOT) project financing). More recently, she organized numerous government trade delegations to promote bilateral business cooperation between China and Australia.

Dr Meng holds a PhD in Business Administration from the InterAmerican University and an MBA in Business Administration from the Southern California University.

The Directors are pleased to welcome Dr Meng to the Board of the Company and believe her experience and background will be invaluable as the Company progresses towards potential new business ventures.

This announcement has been approved by Chairman Lubing Liu on behalf of the Company. 

AIM rules disclosures

Dr Meng, aged 53, is, or has during the last five years been, a director or partner of the following companies and partnerships

 Dr. Meng does not hold any interest in the share capital of the Company.

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.