Sea Dragon Energy Inc. (TSXV:SDX)
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3 Months : From Nov 2019 to Feb 2020
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
LONDON, Nov. 20, 2019 /CNW/ -- SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, is pleased to announce the appointment of Amr Al Menhali as Non-Executive Director of SDX.
In September 2019, Mr. Al Menhali was appointed Chief Executive Officer of Waha Capital, SDX's largest shareholder with a 19.48% interest in the Company. He has a track record of over 20 years in senior leadership positions across a number of high profile institutions, with expertise in strategy, finance, risk, credit and corporate governance. Mr. Al Menhali has also served on the boards of prominent regional and international companies in diverse sectors and industry bodies, including the UAE Banks Federation.
Michael Doyle, Non-Executive Chairman of SDX, commented:
"We are very pleased to welcome Mr. Al Menhali to the Board of SDX as a Non-Executive Director. His appointment demonstrates the ongoing support of our largest shareholder, Waha Capital. Mr. Al Menhali has significant experience in senior management and board positions across a number of high profile institutions in our operating region and we are looking forward to his contribution and insight as the Company continues to deliver on its objectives."
Amr Al Menhali, aged 39, has held the following directorships and/or partnerships in the past five years:
Waha Capital PJSC
Al Hilal Bank
GFH Financial Group
Abu Dhabi Commercial Bank PJSC
UAE Banking Federation
Abu Dhabi Finance
Waha Capital PJSC, through its wholly owned subsidiary SDX SPV Ltd, owns 39,876,803 ordinary shares in the Company although Mr. Al Menhali owns no ordinary shares in the Company in a personal capacity ahead of appointment.
There are no further disclosures required to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.
SDX is an international oil and gas exploration, production and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in three producing assets. In the South Disouq gas field in the Nile Delta, the Company has a 55% operated interest. In the Eastern Desert, adjacent to the Gulf of Suez, the Company has two non-operated oil interests; 50% in North West Gemsa and 50% in Meseda. In Morocco, SDX has a 75% working interest in the Sebou concession, situated in the Gharb Basin. These producing gas assets in Morocco are characterised by exceptionally low operating costs and fixed priced gas contracts making them particularly resilient in a low oil price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.
For further information, please see the Company's website at www.sdxenergy.com or the Company's filed documents at www.sedar.com.
SOURCE SDX Energy Plc