White Nile Limited
14 July 2005
14 July 2005
White Nile Limited ('White Nile' or 'the Company')
'Appointment of Directors'
White Nile Ltd, the AIM listed oil and gas exploration company, is pleased to
announce that it has appointed Dr Lual Acuek Deng and Mr Edward Abyei Lino as
Non Executive Directors to the Board with immediate effect.
The appointments are in line with the agreement between White Nile Ltd, Nile
Petroleum Corporation Limited ('NPC') and the New Government of Southern Sudan
that was disclosed in the admission document dated 19th May 2005. Following the
conclusion of the transaction, whereby NPC was issued 155,000,000 White Nile
shares in return for an interest in a petroleum concession (Block Ba) in
Southern Sudan, NPC had the option to appoint two representatives of NPC to the
Board of White Nile.
Dr Deng is currently an economic advisor to the New Government of Southern
Sudan's Economic Commission. A citizen of United States of America, Dr Deng has
been heavily involved in the political and economic development of Southern
Sudan. He has been a consultant amongst others to the World Bank, the United
Nations, the United States Agency for International Development and the
Inter-Governmental Authority on Development in the Horn of Africa. Prior to this
he held various positions with the African Development Bank. Dr Deng has a PhD
in Development Economics from the University of Wisconsin, an MSc in Economics
from Iowa State University, a Masters in Biostatistics from the University of
Alexandria and a BSc in Economic Statistics from the University of Khartoum.
Mr Lino is currently a Director of Nile Petroleum Corporation Limited the
Southern Sudanese national oil company. He is Director of Security for the
Regional Development Corporation of Southern Sudan for which he was a founder.
Mr Lino trained as a lawyer at Khartoum University. He has been heavily involved
in the political and economic development of the New Government of Southern
Sudan and in implementing strategic initiatives particularly with regard to the
oil industry.
White Nile Chairman Phil Edmonds said: 'It was agreed at a very early stage that
NPC should have representatives on the Board. The appointment of Lual Deng and
Edward Lino not only fulfils this agreement but further strengthens the
relationship between the Company and the people of Southern Sudan. They both
bring a wealth of experience of business and regional knowledge which will
definitely assist in the development of White Nile. I would like to take this
opportunity in welcoming them to the Board and I hope together we can work
towards creating a strong presence within Southern Sudan and its surrounding
countries and helping in the enhancement of this region's oil potential.'
Information required to be disclosed pursuant to paragraph (g) of Schedule Two
of the AIM Rules.
Lual Acuek Deng, aged 55, is or has been a director of the following companies
during the previous five years:
Current directorships Past directorships
Nile Commercial Bank Ltd None
Edward Abyei Lino, aged 59, is or has been a director of the following companies
during the previous five years:
Current directorships Past directorships
Nile Petroleum Corporation Ltd None
Neither Dr Deng nor Mr Lino has any interest in any shares in the Company. There
is no further information required to be disclosed in respect of the above
appointments pursuant to Schedule Two paragraph (g) of the AIM Rules.
* * E N D S * *
Issued on behalf of White Nile Ltd by St Brides Media & Finance Ltd, 46 Bedford
Row, London WC1R 4LR.
Contacts:
Phil Edmonds White Nile Ltd Tel: 0845 108 6060
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477
This information is provided by RNS
The company news service from the London Stock Exchange
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