New CFO / Change of Auditors

25 Mar 2008 07:01

Fortune Oil PLC25 March 2008 25th MARCH 2008 FORTUNE OIL PLC ("Fortune Oil" or "the Company") Appointment of Chief Financial Officer and Change of Auditors Fortune Oil PLC is pleased to announce the appointment of Timothy Ka-Yip Shen asChief Financial Officer with immediate effect. He will be based in theCompany's headquarters in Hong Kong. Mr. Shen is a US Certified Public Accountant and is a Fellow Member of the HongKong Institute of Certified Public Accountants. He has over 20 years experiencein finance and investment management in Hong Kong, China and Canada. Prior tojoining Fortune Oil, he was Deputy CEO and CFO for Universal Holdings Limited, aHong Kong listed media company. From 1999 to 2005 Mr. Shen worked in thecorporate finance and treasury departments of China Merchants Holdings(International) Company Limited. His responsibilities at this Hong Kong listedcompany included infrastructure financing, corporate governance and investorrelations and in 2005 he was voted by Institutional Investors Inc as the Best IROfficer in Hong Kong. Mr. Shen is fluent in English, Cantonese and Mandarin. Further, the Company announces the promotion of Paul Kwong to FinancialController. He will take over the responsibilities of Mr. Sammy Ng who willleave the Group at the end of March. Mr. Kwong has been with Fortune Oil since2006 and previously worked at Ernst & Young and a Hong Kong listed gas company.He is a Fellow Member of the Association of Chartered Certified Accountants. Fortune Oil also wishes to announce that Deloitte & Touche LLP have replacedGrant Thornton UK LLP as auditors for the Company. Enquiries: Fortune Oil PLCJohn Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong) Pelham Public RelationsArchie Berens Tel: 020 7743 6679 or 07802 442 486Robert Koh Tel. 020 3170 7444 This information is provided by RNS The company news service from the London Stock Exchange