Urals Energy Plc Regulatory News (UEN)

22 Dec 2008 07:00



Urals Energy Public Company Limited

(the "Company")

Urals Energy Board Changes

Urals Energy today announces changes to the composition of its Board of Directors (the "Board").

For reasons of a recently diagnosed and acute family health issue, Charles Pitman, currently a member of the Board and Chairman, has given notice of his resignation from the Board. He will leave the Board on 2 January 2009 in order to focus on assisting his family at this time. Leonid Dyachenko, currently a Director and Chief Executive Officer of the Company, will assume the role of Executive Chairman at the time of Mr Pitman's departure.

In anticipation of these changes and in order to maintain a strong and effective Board, Vladimir Sidorovich, the Company's Chief Financial Officer, will join the Board as a Director with immediate effect to serve until the next Annual General Meeting when an election to fill the position on the Board shall be held.

The Company will seek once again to add independent representation to the Board in due course.

Leonid Dyachenko, Chief Executive Officer, said: 

"We are, of course, disappointed to see Charles leave the Board and we thank him for the advice and guidance he has provided to us. We fully understand his reasons for having to depart and our thoughts are with him and his family at this time."

22 December 2008

Enquiries:

The following information is disclosed pursuant to Schedule 2(g) of the AIM Rules. 

Vladimir G. Sidorovich is aged 61 and has no previous names.

He currently holds the following directorships:

S.T.I. Sunflower Technologies Inc. (Seychelles)

Meklyn Enterprises Limited (Cyprus)

Heliant Limited (UK)

Mr Sidorovich held no other directorships in last five years.

In respect of Mr Sidorovich, there is no other information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.