TIDMCEG
RNS Number : 3880A
Challenger Energy Group PLC
01 June 2021
1 June 2021
Challenger Energy Group PLC
("Challenger Energy" or the "Company")
Board Changes
Challenger Energy (AIM:CEG), the Caribbean and Atlantic margin
focused oil and gas company, with production, appraisal,
development and exploration assets across the region, announces,
further to the announcement of 23 April 2021 , the appointment of
Eytan Uliel and Stephen Bizzell to the Company's board of directors
(the "Board"), with immediate effect.
Board Changes
Mr Eytan Uliel, the Company's Chief Executive Officer designate,
has now formally been appointed as Chief Executive Officer of the
Company. Following Eytan's appointment, Simon Potter, the Company's
previous Chief Executive Officer since 2011, has stepped down from
this role but will remain with the Company as a Non-Executive
Director, with a remit to provide ongoing transitional support to
the Company's executive team.
Mr Stephen Bizzell has been appointed to the Board as a
Non-Executive Director. Subsequent to the appointment of Stephen
Bizzell, Mr Ross McDonald, Non-Executive Director of the Board, has
stepped down from his role.
The Board now comprises William Schrader (Non-Executive
Chairman), James Smith (Deputy Non-Executive Chairman), Simon
Potter (Non-Executive Director), Stephen Bizzell (Non-Executive
Director) and Eytan Uliel (CEO).
As previously advised, the appointment of Mr. Robert Riley to
the Board as non-executive director will take effect at such time
as customary onboarding processes for new directors are completed,
and a further announcement will be made at that time. As previously
advised, the Company will also consider the potential for the
appointment of additional Non-Executive Directors in the future, as
may be deemed appropriate.
Eytan Uliel, Chief Executive Officer, commented:
"I am delighted to have formally assumed the role of CEO of
Challenger Energy. We are making steady progress on our plan to
reset the Company both strategically and corporately, with a view
to positioning the business for future growth. I and the executive
team will be working closely with our re-organised Board in
implementing a strategy focussed on creating shareholder value
through production and cashflow growth across our portfolio. I look
forward to engaging over the coming months with our shareholders
and stakeholders, and providing regular updates on our
progress."
Additional Information
The following additional information is provided in accordance
with paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Mr Eytan Michael Uliel (aged 49)
Current Directorships Past Directorships (last five
years)
UIA Investment Holdings (No.1)
BPC Managements Services Ltd Pte Ltd
-------------------------------
UIA Healthcare Holdings Pte
BPC Goudron Trinidad Ltd Ltd
-------------------------------
BPC Icacos Trinidad Ltd Apos Asia Holdings Pte Ltd
-------------------------------
BPC South Erin Trinidad Ltd Apos Singapore Pte Ltd
-------------------------------
Cory Moruga Holdings Ltd Eight Ball Investments Pty Ltd
-------------------------------
Steeldrum Petroleum Group Ltd
-------------------------------
BPC Inniss-Trinity Trinidad
Ltd
-------------------------------
T-Rex Resources Trinidad Ltd
-------------------------------
BPC Bonasse Trinidad Ltd
-------------------------------
Uliel Investments Pte Ltd
-------------------------------
Hameitar Pty Ltd
-------------------------------
Kinneret Pty Ltd
-------------------------------
Knock n Lock Ltd
-------------------------------
Man Mission Nominees Pty Ltd
-------------------------------
Mitchells Holdings (Asia) Pte
Ltd
-------------------------------
Mitchells Worldwide Marketing
Pte Ltd
-------------------------------
Alceon Funds Management Pty
Ltd
-------------------------------
Alceon Australian Real Estate
Corporate Senior Loan Master
Fund
-------------------------------
Alceon Real Estate Corporate
Senior Loan Master Fund
-------------------------------
Armour Energy Limited
-------------------------------
Armour Energy (Victoria) Pty
Ltd
-------------------------------
Armour Energy (Surat Basin)
Pty Ltd
-------------------------------
Armour Energy International
Pty Ltd
-------------------------------
Armour Energy (Qld) Pty Ltd
-------------------------------
Ripple Resources Pty Ltd
-------------------------------
Mr Uliel is interested in 10,373,962 ordinary shares in capital
of the Company and has options over 4,250,000 ordinary shares in
the capital of the Company at strike prices ranging from 22.2 pence
per share to 28 pence per share.
Mr Stephen Grant Bizzell (aged 53)
Current Directorships Past Directorships (last five
years)
Armour Energy Limited Aegpas Pty Ltd
------------------------------
A.C.N. 601 276 886 Pty Ltd Belview Coal Pty Ltd
------------------------------
Agate Creek Holdings Pty Ltd Cape Range Energy Pty Ltd
------------------------------
Armour Energy (Victoria) Pty
Ltd Coera Pty Ltd
------------------------------
Armour Energy (Surat Basin)
Pty Limited Comet Coal & Coke Pty Limited
------------------------------
Armour Energy (Qld) Pty Ltd Diversa Pty Ltd
------------------------------
Armour Energy International
Pty Ltd Emerald Coal Pty Ltd
------------------------------
BBW Funds Pty Ltd Kerlong Coking Coal Pty Ltd
------------------------------
BCP Alpha Investments Pty Ltd Mackenzie Coal Pty Limited
------------------------------
BCP Alpha Management Pty Ltd New Cambria Pty Ltd
------------------------------
BCP Equities Pty Ltd PB Energy No 1 Pty Ltd
------------------------------
Bizzell Asset Management Pty
Ltd Ripple Resources Pty Ltd
------------------------------
Bizzell Capital Partners Pty Stanmore Coal Custodian Pty
Ltd Ltd
------------------------------
Bizzell Nominees Pty Ltd Stanmore Resources Limited
------------------------------
Centec Securities Pty Ltd Strike North West Pty Ltd
------------------------------
E-1 Nominees Pty Ltd Sub161 Pty Ltd.
------------------------------
Enthalpy Pty Ltd UIL Canning Basin Pty Ltd
------------------------------
International Justice Fund Pty
Ltd UIL Energy Pty Ltd
------------------------------
Laneway Resources Limited
------------------------------
Maas Group Holdings Limited
------------------------------
Pine Mountain Pty Ltd
------------------------------
Renascor Resources Limited
------------------------------
Renison Coal Pty Ltd
------------------------------
Strike Energy Limited
------------------------------
Wavebreak Ventures Pty Ltd
------------------------------
Mr Bizzell had an interest in GBP 151,000 worth of convertible
notes issued by the Company which, on 27(th) May 2021 converted
into 4,314,286 ordinary shares (post share consolidation) in the
capital of the Company. In addition, Mr. Bizzell holds an interest
in GBP 200,000 worth of convertible notes issued by the Company,
which remain on issue in accordance with the terms and conditions
of those notes, as previously disclosed (and, if converted in full,
would represent an interest in a further 2,500,000 ordinary shares.
Mr Bizzell also has an interest in options over 300,000 ordinary
shares in the capital of the Company at a strike price of 20 pence
per share.
Mr Bizzell was previously a Non-Executive Director of Titan
Energy Services Limited, which entered voluntary administration in
December 2015. The administration came to an end in June 2016 and
the company has subsequently been renamed Aumake Limited.
Other than the information contained within this announcement,
there is no further information required to be disclosed pursuant
to Schedule 2(g) of the AIM Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, which forms part of United
Kingdom domestic law by virtue of the European (Withdrawal) Act
2018.
For further information, please contact:
Challenger Energy Group PLC Tel: +44 (0) 1624
Eytan Uliel, Chief Executive Officer 647 882
Strand Hanson Limited - Nomad Tel: +44 (0) 20
Rory Murphy / James Spinney / Rob 7409 3494
Patrick
Shore Capital Stockbrokers Limited Tel: +44 (0) 207
- J oint Broker 408 4090
Jerry Keen / Toby Gibbs
Investec Bank Plc - J oint Broker Tel: +4 4 (0) 207
Chris Sim / Rahul Sharma 597 5970
Gneiss Energy - Financial Adviser Tel: +44 (0) 20
Jon Fitzpatrick / Paul Weidman / Doug 3983 9263
Rycroft
CAMARCO Tel: +44 (0) 020 3757
Billy Clegg / James Crothers / Hugo 4980
Liddy
Notes to Editors
Challenger Energy is a Caribbean and Atlantic margin focused oil
and gas company, with a range of exploration, appraisal,
development and production assets and licences, located onshore in
Trinidad and Tobago, and Suriname, and offshore in the waters of
The Bahamas and Uruguay. In Trinidad and Tobago, Challenger Energy
has five (5) producing fields, two (2) appraisal / development
projects and a prospective exploration portfolio in the South West
Peninsula. In Suriname, Challenger Energy has on onshore appraisal
/ development project. Challenger Energy's exploration licence in
each of Uruguay and The Bahamas are highly prospective, and offer
high-impact value exposure within the overall portfolio value.
Challenger Energy is quoted on the AIM market of the London
Stock Exchange.
https://www.cegplc.com
ENDS
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END
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