Saffron and Po Valley Director Changes

RNS Number : 0211V

Saffron Energy PLC

31 October 2017

 

31 October 2017

Saffron Energy Plc

("Saffron" or the "Company")

Saffron Energy and Po Valley Energy Director Changes

Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to announce that the Company's Non-Executive Director Ms Sara Edmonson will formally take up the position of Chief Executive Officer of Saffron Energy which is 54% owned by Po Valley Energy Limited ("PVE") from 1 November 2017.

Mr Michael Masterman as Executive Chairman of PVE will assume Sara's Executive roles at PVE and Po Valley Operations Limited ("PVO"). Michael will move to a Non-Executive Director position at Saffron after leading Saffron through the IPO in February and proposed expansion of the Company while Sara will retain her Non-Executive Director position at PVO.

The change will assist in aligning roles in preparation for the proposed Saffron Energy acquisition of Sound Energy plc's wholly owned subsidiary Sound Energy Holdings Italy Limited and PVO to position itself as a mid-cap regional gas producer and explorer as announced on 5 October 2017. 

About Saffron Energy Plc

Saffron Energy is a natural gas producer with interests in Northern Italy. Its portfolio includes two producing fields Sillaro (100%) and Bezzecca (90%) and a near-term gas production field Sant'Alberto presently under development, all near Milan and Bologna. Saffron Energy commenced trading on the London AIM Market under the ticker of SRON on 24 February 2017.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please visit www.saffronenergy.co.uk or contact the following:

Saffron Energy plc	[phone]
Michael Masterman, CEO	[e-mail]
Grant Thornton UK LLP (Financial & Nominated Adviser)	[phone]
Colin Aaronson
Jen Clarke
Harrison J Clarke
Turner Pope Investments (TPI) Ltd (Broker)	[phone]
Ben Turner	[e-mail]
James Pope
Cassiopeia Services (PR/IR)	[phone]
Stefania Barbaglio	[e-mail]

 

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