Change of Adviser

RNS Number : 5094H

Plexus Holdings Plc

23 February 2010

 



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

23 February 2010

Plexus Holdings PLC ('Plexus' or 'the Company')

Change of Adviser

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce the appointment of Cenkos Securities plc as its NOMAD and broker with immediate effect.

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For further information please visit www.posgrip.com or contact:          

Ben van Bilderbeek	Plexus Holdings PLC	Tel: [phone]
Graham Stevens	Plexus Holdings PLC	Tel: [phone]
Jon Fitzpatrick	Cenkos Securities plc	[phone]
Ken Fleming	Cenkos Securities plc	[phone]
Felicity Edwards	St Brides Media & Finance Ltd	Tel: [phone]
Isabel Crossley	St Brides Media & Finance Ltd	Tel: [phone]

Notes to Editors:

Plexus, which began trading on AIM in December 2005, is an established oil and gas engineering and services business which supplies wellhead and mudline suspension equipment for exploration and production applications based in Aberdeen, with an office in London, Cairo, Kuala Lumpur and a presence in Houston, Texas. It has developed and patented a method of engineering for oil and gas field wellheads and connectors, POS-GRIP, which involves deforming one tubular member against another to effect gripping and sealing.

POS-GRIP wellhead systems have to date been used or selected to be used in over 140 oil and gas wells by international companies including BHP Billiton, BG International, Bowleven plc, BP, Brunei Shell Petroleum, Cairn Energy, Centrica, ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk, Petro-Canada Trinidad & Tobago, Red Sea Petroleum Operating Company, Repsol, RWE, Shell Egypt, StatoilHydro, Silverstone Energy, Talisman Energy, Tullow Oil, and Wintershall.

The Company plans to accelerate the roll out of POS-GRIP technology as a superior alternative to current wellhead technology.  It has particular advantages in HP/HT (High Pressure/High Temperature) and X-HP-HT (Extreme High Pressure/High Temperature) oil and gas environments for which there is increasing demand throughout the world. The Company's long-term goal is to develop POS-GRIP technology as the future industry standard for wellhead design. This objective includes the distribution of POS-GRIP technology through licensees to maximise market penetration.

 

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