Board Changes

RNS Number : 8029Q

Rockhopper Exploration plc

22 February 2019

 

22 February 2019

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Board Changes

Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, announces the following changes to the membership of the Board and its committees.

Having served on the board for nearly nine years, the past three as Non-executive Chairman, David McManus will be retiring as a Director with effect from the Company's 2019 Annual General Meeting ("AGM").

David will be succeeded as Non-executive Chairman by Keith Lough, currently the Senior Independent Director and a Non-executive Director of the Company since January 2014.

Keith has over 30 years' experience in the energy and natural resources sector having held previous senior management positions as Managing Director - Europe and North Africa of LASMO plc, Chief Financial Officer of PetroKazakhstan Inc, Finance Director of British Energy plc and Chief Executive Officer of Composite Energy Limited. Keith currently serves as a Non-executive director on the boards of Cairn Energy plc, Hunting plc and the UK Gas & Electricity Markets Authority.

Alison Baker will replace Keith as Chairman of the Audit and Risk Committee, also with effect from the 2019 AGM.

Accordingly, following the Company's 2019 AGM, the Board will comprise six Directors - two Executive Directors and four Non-executive Directors, including the Chairman. However, as part of the Board's long-term succession planning and given our continued focus on corporate costs, the aim remains to further reduce the size of the board over time. In this regard, and as previously announced, it is anticipated that Tim Bushell will step down from the Board at or before the Company's AGM in 2020.

Sam Moody, Chief Executive Officer, commented:

"I would like to thank David for his unstinting efforts as both a Director and latterly as Chairman, as the Company broadened its horizons with transactions in both the Falklands and the Mediterranean and continued to progress its Sea Lion development. His wise counsel and support throughout that period has been greatly appreciated by the whole board. I wish him the best in his other endeavours and look forward to continuing to work with Keith in his new role."

Enquiries:

Rockhopper Exploration plc

Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer

Tel. [phone] (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor

James Asensio

Tel. [phone]

Peel Hunt LLP (Joint Broker)

Richard Crichton

Tel. [phone]

Vigo Communications

Patrick d'Ancona

Ben Simons

Tel. [phone]

 

END

 

 

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