Anglo African Oil & Gas PLC Board Changes and Financing Update (7132G)
March 19 2020 - 3:00AM
UK Regulatory
TIDMAAOG
RNS Number : 7132G
Anglo African Oil & Gas PLC
19 March 2020
Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG /
Sector: Oil & Gas
ANGLO AFRICAN OIL & GAS PLC ('AAOG' or the 'Company')
Board Changes and Financing Update
Board Changes
Anglo African Oil & Gas plc announces the following changes
to its Board of Directors, each with immediate effect.
Dexter Ferreira is appointed Non-Executive Director. Dexter has
worked in the natural resources sector for over 25 years, namely as
a consulting mining engineer and geologist. He is currently a
director of Independent Resource Estimations, a consultancy company
for the mining and exploration market. Mr Ferreira holds a BSc
Geological Sciences, a BEng Mining Engineering and is a member of
the South African Council for Natural Scientific Professions
(SACNASP).
Tania Maciver is appointed Non-Executive Director. Tania is a
knowledgeable global finance professional with over 20 years of buy
and sell side experience across many industries, successfully
assisting companies with corporate strategy development and capital
structuring. Tania is currently COO and Research Analyst at SP
Angel Corporate Finance LLP. Tania holds a Masters in Finance, an
MBA with Finance Specialisation, BA Economics and BSc in Life
Sciences.
Both Tania and Dexter are being appointed as non-executive
directors in accordance with the agreement under which Forum Energy
Services Limited ("Forum") invested in the Company earlier in the
year. The new directors are engaged and paid by the Company and
have no business interest in Forum.
James Cane has agreed to step down as Interim Chief Executive
and Finance Director and has left the board. Forum has agreed to
provide the services of Paul Forrest as a part-time Interim
Financial Officer in a non-board role to provide cost effective
assistance for the Company in monitoring and controlling its
finances. Paul is the sole director of Forum and has over sixteen
years' experience working in finance in the natural resource
industry.
Sarah Cope and Phil Beck remain on the board as Non-Executive
Chair and Non-Executive Director, respectively. In the board's view
the current nature of the Company's activities does not presently
merit appointing any director in an executive capacity.
The Board would like to thank James Cane for his hard work and
valuable contribution to AAOG particularly over the last few
months.
Financing Update
Forum has agreed in principle to arrange/provide the Company
with interim finance of GBP150,000 before the end of March in order
to ensure that AAOG can satisfy its creditors following this date.
A further announcement will be made in due course.
Schedule 2(g) of the AIM Rules for Companies
The following information is disclosed under Schedule 2(g) of
the AIM Rules for Companies:
Mr Dexter Stewart Nuno Ferreira , aged 58, currently holds or
has held the following directorships and partnerships in the last
five years:
Current directorships/partnerships Past directorships/partnerships
Independent Resource Estimations None
CC
Ms Tania Alena Maciver, aged 48, currently holds or has held the
following directorships and partnerships in the last five
years:
Current directorships/partnerships Past directorships/partnerships
Swan Alley (Nominees) Limited Northland Partners LLP
Northland Capital Partners Umana Medical technologies
Limited Ltd
Sandco 1101 Limited
Bootyman Printers Limited
NPE Management Company Limited
Northland Private Equity Limited
As at the date of this announcement, none of the above Directors
has an interest in the ordinary shares of the Company.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
**ENDS**
Enquiries:
Anglo African Oil & Gas plc info@aaog.com
Sarah Cope, Non-Executive Chair
finnCap Ltd (Nominated Adviser and Broker) Tel: +44 20 7220
0500
Christopher Raggett, Giles Rolls, Teddy Whiley
(Corporate Finance)
Camille Gochez (ECM)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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