Board Changes

RNS Number : 3572R

Coro Energy PLC

28 February 2019

 

28 February 2019

Coro Energy plc

("Coro Energy" or the "Company")

Board Changes

Coro Energy, the South East Asian focused exploration and production company, today announces two changes to its Board of Directors.

The Company is delighted to announced that Andrew Dennan, Chief Financial Officer, will join the Board, subject to regulatory approval.   Andrew joined the Company in January 2018.

As recently appointed Chairman of PT Bank Muamalat Limited, Ilham Habibie has been required to rationalise his portfolio of non-executive directorships. Following the Company's second recent acquisition in Indonesia, the Company now has a robust platform in South East Asian from which to further expand.  Mr Habibie has therefore decided it is now an appropriate time for him to step down from the Board of Coro Energy, effective 1 March 2019.  Mr Habibie will continue to support the Company in an advisory capacity.

James Parsons, Chairman of the Board commented:

"We would like to thank Ilham for his wise council and significant contribution launching Coro Energy into South East Asia.  We look forward to his ongoing support in an advisory capacity.

We also look forward  to welcoming Andy Dennan to the Board and appreciate his continuing drive and expertise in further growing Coro Energy's business."

Further consideration is being given to Board composition and the Company expects to appoint an additional independent Non-Executive Director in due course.

Coro Energy plc James Menzies, Chief Executive Officer Andrew Dennan, Chief Financial Officer	Tel: [phone]
Grant Thornton UK LLP (Financial and Nominated Adviser) Colin Aaronson/Jen Clarke/Harrison J Clarke	Tel: [phone]
Mirabaud Securities Ltd (Joint Broker)	Tel: [phone]
Peter Krens/Ed Haig-Thomas
Turner Pope Investments (TPI) Ltd (Broker) Ben Turner/James Pope	Tel: [phone] [e-mail]

 

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