Board Changes

RNS Number : 2320P

Indus Gas Limited

30 September 2013

 

For Immediate Release                                                                             

30 September 2013

Indus Gas Limited

("Indus" or "the Company")

Appointment of Non-Executive Chairman and return of Finance Director

Indus Gas Limited (AIM:INDI.L), an oil & gas exploration and development company with assets in India, is pleased to announce the appointment of Peter Cockburn as non-executive Chairman, with immediate effect and the return of John Scott as Chief Financial Officer to the Board, with a starting date still to be confirmed.  

Peter Cockburn was Investment Director at Scottish Widows Investment Partnership from 2003 to 2009 and then Head of UK Equities until May-12. Prior to that, he was Investment Manager (UK Equities) at Edinburgh Fund Mangers PLC from 1998 to 2003. Peter also worked in Audit at KPMG from 1993-98. 

Peter, aged 42, was educated at George Watson's College and graduated from Napier University with a BA in Accountancy, and an MSc in Investment Analysis from Stirling University. He is a member of the Institute of Chartered Accountants of Scotland (1997) and the UK Society of Investment Professionals (2000) and holds the Investment Management Certificate (1999).

John Scott initially joined Indus in 2008 and helped take the Company through its successful flotation on the AIM Market later that year and then its further growth in operations, before leaving in February this year to take up an appointment as Chief Executive Officer at another UK listed oil and gas company. John is now rejoining Indus at an exciting time in our growth.

John, aged 54, entered the oil industry in 1980 with the British National Oil Corporation and worked in a variety of technical and commercial roles. Following an MBA at London Business School, he joined the energy group of Citibank and subsequently gained corporate finance experience at ABN Amro and Standard Bank. John returned to the industry with Halliburton in a senior financial role and has been finance director of the Toronto Stock Venture Exchange listed Exile Resources Inc.      

Commenting, Mark Holtzman, Chairman of Indus Gas, said:

"We are delighted that Peter has agreed to join the board of Indus Gas and John is re-joining us. Peter's investment management experience and John's hands-on financial experience and skills will prove invaluable to the Company as we move into the next stage of growth and development. Since listing, the Company has experienced significant growth, which has included delivering on goals such as the start of commercial production and proving up substantial additional reserves, placing us in a good position to grow production and cash flows, optimise our balance sheet and execute on the successful future development of the licence block"

There are no other disclosures for Peter Cockburn under AIM Rule 17.

Further disclosure for John Scott under AIM Rule 17

Current directorships

Abbeymount Services Limited

Victoria Oil & Gas PLC

RDL Limited

Directorships held within the previous five years

Indus Gas Limited

There is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules

For further information please contact:

Indus Gas Limited
Mark Holtzman (c/o Arden Partners)		[phone]
Arden Partners plc
Richard Day		[phone]
Bell Pottinger Pelham PR
Philip Dennis		[phone]

Elena Dobson                                                                              [phone]

 

END

 

 

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