TIDMLEK
RNS Number : 2354O
Lekoil Limited
09 June 2022
9 June 2022
Lekoil Limited
("LEKOIL" or the "Company")
Directorate Changes
LEKOIL (AQSE: LEK), the Cayman Islands company with an
investment in oil & gas assets in Nigeria, is pleased to
announce the following appointments to the Company, each with
immediate effect:
-- Mr. Olapade Durotoye becomes the Non-Executive Chairman
-- Mr. Guy Oxnard becomes an Executive Director
-- Mr. Dipo Sofola becomes a Non-Executive Director
The appointments are part of a managed succession planning in
which Mr. Anthony Hawkins and Mr. Al Tindall will each cease being
Directors of the Company as of 30 June 2022. Mr. Hawkins has served
as a Non-Executive Director of the Company since January 2020 and
as the Interim Executive Chairman since June 2021. Mr Tindall has
been a Non-Executive Director of the Company since April 2021.
Commenting on the Board changes, Mr. Anthony Hawkins, said:
" I am very pleased to welcome Mr. Durotoye into the role of
Non-Executive Chairman. He brings a wealth of experience of the
Nigerian oil & gas industry into the role and I believe he, and
the rest of the Board, are well placed to guide the Company in the
recovery of its investments in Lekoil Nigeria.
The Board is delighted to welcome Mr. Oxnard and Mr. Sofola to
the Company.
Mr. Oxnard brings over 25 years of legal and commercial
experience to the Company and is well placed to assist in the
administration of the Company, having advised the Company since
September 2021 on a number of matters.
Mr. Sofola brings with him a wealth of intimate knowledge of the
Nigerian energy sector, currently he is Business Development
Manager at Savannah Energy. As previously disclosed, the Company's
arrangements with Savannah Energy Investments Limited permit it to
appoint a director to the Board of the Company and we welcome Mr.
Sofola's appointment as we believe he will contribute a depth of
sector knowledge and practical experience to the Board and the
Company."
Commenting on the Board changes, the Company's Chairman, Mr.
Olapade Durotoye said:
"I'd like to thank Mr. Hawkins and Mr. Tindall for all their
work since the times of their appointment. In particular, I would
like to recognise the role Mr. Hawkins has played in ensuring that
the Company has been able to protect its position vis-à-vis Lekoil
Nigeria over the past 12 months.
Looking forward, the Company will continue to act in the best
interests of our shareholders as we look to protect and recover our
investments in Lekoil Nigeria."
Details of each of the appointees is set out below:
Mr Guy Oxnard is a common law qualified upstream and midstream
oil & gas lawyer with experience on four continents, including
Africa. As a General Counsel, Executive Manager, Company Secretary
and Head of Compliance he has specialised in the structuring,
financing and management of transborder pipeline projects, with
particular interest in joint venture governance. He also is
experienced in M&A and litigation management. Prior to joining
Lekoil, Mr Oxnard worked with Tullow Oil plc, Trans Adriatic
Pipeline AG, Apache Energy Corp and law firm Herbert Smith
Freehills.
Mr. Dipo Sofola is a senior oil and gas executive with over a
decade of energy experience, focused on energy commercialization
and business development in the Nigerian oil and gas sector. Mr.
Sofola is a Business Development Manager for Savannah Energy, where
he leads on significant strategic projects, in line with Savannah
Energy's objective of delivering impactful and transformative
energy projects on the African continent. Previously, Mr. Sofola
was a Senior Commercial Advisor at Seven Energy (now Savannah
Entergy), leading on commercial transactions. He has also
previously worked as a Business Development analyst with
multinational telecommunications group, Etisalat in Nigeria. Mr.
Sofola holds a BA (Hons) in Business Finance from University of
Durham and an MSc in Project and Enterprise Management from
University College London.
The following information is provided for the purpose of Rule
4.9 of the AQSE Growth Market Access Rulebook for Mr. Guy Oxnard.
There is no further information to be disclosed pursuant to Rule
4.9 of the AQSE Growth Market Access Rulebook.
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
Oxon Hall Management Limited
-----------------------------------------
The following information is provided for the purpose of Rule
4.9 of the AQSE Growth Market Access Rulebook for Mr. Dipo Sofola.
There is no further information to be disclosed pursuant to Rule
4.9 of the AQSE Growth Market Access Rulebook.
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
Pine Park Limited Savannah Energy Investment Limited
Kaydars Learning Academy Blue Oasis Global Investment Limited
Barbar Multidynamic Concepts
and Services Limited
Panda Express Meals Limited
284 Lounge Limited
-----------------------------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
For further information, please visit www.lekoilplc.com or
contact:
First Sentinel Corporate Finance Ltd (AQSE
Corporate Adviser)
Brian Stockbridge +44 203 989 2200
Tennyson Securities (Broker)
Peter Krens +44 20 7186 9030
--------------------
Camarco (Financial PR Advisor)
Billy Clegg / Owen Roberts / Violet Wilson +44 20 3757 4983
--------------------
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END
NEXFLFIARAITIIF
(END) Dow Jones Newswires
June 09, 2022 02:02 ET (06:02 GMT)
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