BOARD CHANGES

RNS Number : 7271C

Oracle Power PLC

24 January 2018

 

Oracle Power PLC

24 January 2018

ORACLE POWER PLC

("Oracle" or the "Company" or the "Group")

BOARD CHANGES

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the "Project"), today announces, with immediate effect, the retirement as Interim Chairman of Mr Anthony Scutt,  and the appointment in his place of Mr Mark Steed, currently a non-executive director.  It is the intention to appoint a permanent chairman following financial close, at which point the Board will further consider its composition to meet the challenges going forward.  Mr Scutt remains a non-executive Director and resumes his role as Senior Independent Director

The Board places on record its appreciation and thanks for Mr Scutt's valued service as Interim Chairman and looks forward to his continued contribution as a Director.

The Board further welcomes Mr Steed as Interim Chairman and looks forward to working together with him in the coming months through to financial close of Thar Block VI. 

For further information please contact:

Oracle Power PLC Shahrukh Khan	[phone]
Brandon Hill Capital Limited Oliver Stansfield	[phone]
Peterhouse Corporate Finance Charles Goodfellow	[phone]
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat	[phone]
Blytheweigh                                                   Tim Blythe, Camilla Horsfall, Megan Ray	[phone]
Fortbridge Consulting                                                   Matt Beale, Bill Kemmery	[phone]

 

END

 

 

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