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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Fortune Oil PLC (FTO)

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Wednesday 28 April, 2010

Fortune Oil PLC

Board Changes

RNS Number : 9092K
Fortune Oil PLC
28 April 2010

28 APRIL 2010                                             


Fortune Oil PLC

('Fortune Oil' or "the Company")


Board Changes


Fortune Oil today announces the following changes to the Board:


·    Mdm Li Ching will relinquish her role as Chief Executive at the forthcoming AGM on 15 June 2010; she will remain as an Executive Director. 


·    The Board will appoint Tee Kiam Poon as Chief Executive to succeed Mdm Li. Mr. Tee joined Fortune Oil as Development Director a year ago. He is an extremely capable and energetic senior director and with his 30 years working experience in BP will provide the impetus to grow the Company and take it to the next level of performance.


·    John Pexton, Deputy Chief Executive, will retire from the Board at the forthcoming AGM.  He will be leaving the Company at the end of June 2010 to take up new employment in Singapore.


·    Executive Directors Gong Min, Tian Jun and Ye Qing will retire from the Board at the forthcoming AGM and will not seek reappointment. They will remain in their current management roles and as respective directors of Fortune Oil's China operations.


·    Paul Kwong, currently Financial Controller, will succeed Stanley Chau as Group Financial Controller.  Stanley has resigned due to family reasons. It is the intention of the Company to look for a suitable candidate for the role of Chief Financial Officer whose main duties will, amongst others, be to focus on investor relations, corporate financing, strategic planning, regulatory reporting and corporate development including M&A activities.


·    A recent business venture with Daniel Chiu means that Mr. Wang Jin Jun is no longer an Independent Director. The Company intends to seek more Independent Directors to further strengthen its corporate governance.


Mr. Qian Benyuan, Chairman of Fortune Oil, commented:


"Given the enormous opportunity and our commitment to grow the Company, we are proposing comprehensive changes to the Board and Management team with clear performance targets and accountabilities with new disciplines to drive future growth. 


"I would like to express our deep gratitude and appreciation for Mdm Li's and John Pexton's excellent contributions. They have successfully nurtured the Company to where we are today, developed the gas business and set a solid foundation for future growth.


"With a smaller, more focused Board structure, a dedicated management team and a compelling strategy, we look forward to taking the Company forward, confident of achieving our objectives."







Fortune Oil PLC                                

Tee Kiam Poon



Tel:     00 852 2583 3125 (Hong Kong)

Pelham Bell Pottinger                       

Archie Berens


Tel:     020 7337 1509 or  07802 442 486





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

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