DIRECTORATE CHANGE

RNS Number : 9546S

SDX Energy Inc.

29 June 2018

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

29 June 2018

SDX ENERGY INC.

 ("SDX" or the "Company")

        DIRECTORATE CHANGE

SDX Energy Inc. (TSXV, AIM: SDX), the Egypt focused oil and gas company, is pleased to welcome Timothy Linacre, as an Independent Non-Executive Director, to the Board of Directors (the "Board") with immediate effect.  Tim will become Chairman of the Audit committee and join the Compensation Committee. David Richards, Non-Executive Director and previous Chairman of the Audit Committee, will retire from the Board also with immediate effect.

Timothy Linacre

Tim is a Fellow of the Institute of Chartered Accountants in England and Wales and an experienced City practitioner. After qualifying with Deloitte Haskins and Sells he spent five years with Hoare Govett before moving to Panmure Gordon in 1992, working at that firm for 20 years including eight years as CEO. Tim is currently Senior Managing Partner at Instinctif Partners, a leading business communications firm.

During his career in the City, Tim has advised a range of businesses in a variety of sectors, including oil and gas, from FTSE 100 companies to fast growing listed and private companies.

Michael Doyle, Non-Executive Chairman of SDX Energy, commented:

"I would like to thank David Richards for his significant contribution to SDX. We are extremely pleased to welcome Tim to the Board as he brings a wealth of experience across finance, capital markets and M&A, the oil and gas sector and the region. Tim joins the Board at an exciting stage in SDX's corporate development, as we carry out important work-streams across our portfolio of exploration, development and production assets in Egypt and Morocco. I am confident that his expertise will prove extremely valuable as we look to further grow the business."

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Timothy James Thornton Linacre (aged 59) does not currently hold any common shares with no-par value in the capital of the Company.

Current Directorships

Frenkel Topping Group plc

Previous Directorships / Partnerships (held in the last five years):

Siren E&P Limited

Shareproperty Limited

Tim Linacre Associates Limited

There are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

About SDX

SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX has a working interest in two producing assets (50% North West Gemsa & 50% Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez and a 55% interest in the South Disouq appraisal and development project in the Nile Delta. In Morocco, SDX has a 75% working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

For further information, please see the website of the Company at www.sdxenergy.com or the Company's filed documents at www.sedar.com. 

For further information:

SDX Energy Inc. Paul Welch President and Chief Executive Officer Tel: [phone]	Mark Reid Chief Financial Officer Tel: [phone]
Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) Callum Stewart/Nicholas Rhodes/Ashton Clanfield Tel: [phone]
Cantor Fitzgerald Europe (Joint Broker) David Porter/Nick Tulloch Tel: [phone]
GMP FirstEnergy (Joint Broker) Jonathan Wright/David van Erp Tel: [phone] Celicourt (PR) Mark Antelme/Jimmy Lea/Ollie Mills Tel: [phone]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

END

 

 

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