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Directorate Change

25 Sep 2013 07:00

RNS Number : 8147O
Sirius Petroleum PLC
25 September 2013
 



25 September 2013

Sirius Petroleum plc

("Sirius" or the "Company")

 

Directorate Changes

 

Board Changes

 

Sirius Petroleum plc (AIM: SRSP) is pleased to announce the appointments of Olukayode ('Bobo') Kuti as Chief Executive, Stephen Fletcher as Finance Director and Ajay Kejriwal as a Non-Executive Director, with immediate effect.

 

Bobo Kuti joined the Board as a Non-Executive Director in August 2008. Since joining Sirius, he has advised the Company on its geo-political and business development strategy for West Africa, and has been instrumental in successfully establishing the Company's business network in Nigeria. He formerly worked as an investment advisor for the South African investment fund, Huxton Capital and has a Bachelor of Arts from Duke University, USA studying Economics & Psychology.

 

Stephen Fletcher has over 25 years' experience in investment banking and management consultancy. He was formerly chief operating officer of AIM-quoted Crosby Capital Partners Ltd. and Hong Kong GEM listed Techpacific where he gained extensive experience of investing in natural resource companies, with a particular focus on the oil and gas industry. Previously he worked as chief operating officer of Nomura's International Markets Division and, prior to that, at Credit Suisse First Boston. Stephen has a BA from Oxford University and graduated from Manchester Business School with an MBA in 1987.

 

Ajay Kejriwal has over 20 years' experience in finance and commerce, and is currently a consultant to Juniper Capital, a natural resource investment and advisory business. Prior to Juniper he was Managing Director at Crosby Capital Partners Ltd where he led many investment transactions across oil and gas, mining, real estate and asset management sectors, and was a member of the firm's Executive Committee. He previously worked for the Principal Investments business at Nomura in London and Hong Kong. Steven also established the South Asian brokerage business for Cazenove & Co. and was previously an equities analyst at Morgan Stanley. Mr Kejriwal is a Chartered Accountant, having qualified with PriceWaterhouseCoopers in 1994.

 

The Board also announces the resignations of Toby Hayward and Mike Hirschfield as Directors of the Company, again with immediate effect. The Board would like to thank Toby and Mike for their significant contributions to the Company during the formative stages of its development and wishes them well in their future endeavours. Kitwell Consultants, of which Mike Hirschfield is a Director, will be retained as Company Secretary to Sirius.

 

Commenting, Jack Pryde, Chairman of Sirius Petroleum, said:

 

"The new appointments align the Board and executive management team with the next stage of our strategy and the transition of the Company from an investment company to a fully fledged owner and developer of oil and gas assets. Bobo has been instrumental in both building Sirius Petroleum's business base in Nigeria and securing the Company's options to acquire oil and gas assets."

 

Bobo Kuti, Chief Executive, said:

 

"This is a very exciting stage in the development of the Company and I am delighted that Steve and Ajay are joining the Board, bringing with them a wealth of relevant experience in the international oil and gas sector. We look forward to updating shareholders in due course with respect to these assets and our fundraising activities."

 

 

Pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules for Companies, the following information is disclosed:

 

Stephen Joseph Fletcher, aged 43, has been a director or member of the following companies or partnerships during the previous five years:

 

Current Directorships or Partnerships

Past Directorships or Partnerships within the last 5 years

Carroll Fletcher LLP

Crosby Capital Partners Ltd

Crosby Asset Management (UK) Ltd

Knightsbridge Fund Services Ltd

 

Ajay Kumar Kejriwal, aged 43, has been a director or member of the following companies or partnerships during the previous five years:

 

Current Directorships or Partnerships

Past Directorships or Partnerships within the last 5 years

Enim Vero Ltd

Thematic Networks Ltd

Apollo Mulit Asset Management LLP

Crosby Capital Partners Ltd

Quicksilver Enterprises Ltd (Secretary)

Eplay Ltd (Secretary)

Crosby ETF LLP

Digital Financial Service Ecosystems Ltd

SW1 Private Equity LLP

SW1 Fund Services LLP

Hi Tech Fun Ltd

SW1 Capital ETF Ltd

HSBC SW1 ETF Ltd

 

Mr. Kejriwal is interested in 1,450,000 ordinary shares of 0.25p each in the Company, representing 0.15% of the total issued share capital of the Company.

 

There is no further information to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

 

 

Ends

 

 

 

Enquiries:

Sirius Petroleum plc

Bobo Kuti / Jamie Bligh, IR

 

+44 (0) 20 7747 5100

Cairn Financial Advisers LLP

Tony Rawlinson / Paul Trendell

 

+44 (0) 20 7148 7900

Strand Hanson Limited (Broker and Financial Advisor)

James Harris / James Spinney

 

+44 (0) 20 7409 3494

Gable Communications Limited

John Bick / Justine James

+44 (0) 20 7193 7463

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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