Board and Management Changes
October 23 2007 - 3:00AM
UK Regulatory
RNS Number:1623G
Caspian Holdings plc
22 October 2007
22 October 2007
Caspian Holdings Plc
("Caspian" or "the Company")
Board and Management Changes
Caspian Holdings Plc (AIM: CSH), the oil and gas production and exploration
Company in the countries around the Caspian Sea, announces Board and management
changes.
Non Executive Director Andrew Robinson has resigned from the Board of Caspian
Holdings, to pursue his full time executive commitments to Dominion Petroleum
Limited.
As part of the Company's strategy review, the composition of the Board of
Caspian will be changed to three Directors comprised of an Executive Chairman
and two non Executive Directors. Dietmar Greil has moved to a Non Executive
Director role and will continue to actively assist the company in new project
generation including acquisitions.
At management level, Igor Borissov and Yevgeniy Semikov have stepped up to
become advisors to Caspian Holdings from their previous positions of President
and First Vice President respectively of the Company's 100% owned subsidiary
Taraz LLP. Taraz's financial and administration base will move to Atyrau on the
Caspian Sea and operations will be led by Anton Gritsenko.
Dom Del Borrello has taken up a full time position with Po Valley Energy and
will step down from his position as CFO of the Company. Dom will continue to
provide active commercial support for Caspian through a service agreement with
Po Valley. Financial administration of Caspian Holdings will be led by Mariyam
Musrepova.
Michael Masterman, Executive Chairman, commented: "We wish Andrew success with
Dominion and thank him for his contribution to Caspian from May 2006. The
addition of management support from Igor Borissov and Yevgeniy Semikov gives
Caspian breadth of expertise with a streamlined board. We are focussing on
restarting drilling on our operations and are also evaluating new projects to
add to our portfolio."
-Ends-
Enquiries:
Caspian Holdings Plc Grant Thornton Corporate Hoodless Brennan Parkgreen Communications
Finance
Michael Masterman Fiona Owen Luke Cairns Justine Howarth
T: +44 (0) 7791 288381 T: +44 (0) 20 7383 5100 T: +44 (0) 20 7538 1166 T: +44 (0) 20 7851 7480
www.caspianoil.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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