Igas Energy PLC Board Change (5122Z)
September 15 2022 - 2:01AM
UK Regulatory
TIDMIGAS
RNS Number : 5122Z
Igas Energy PLC
15 September 2022
15 September 2022
IGas Energy plc (AIM: IGAS) ("IGas" or "the Company")
Board Change
The Board of IGas announces that it has today appointed Chris
Hopkinson, Non-Executive Chairman, to the role of Interim Executive
Chairman. Stephen Bowler, CEO, will leave IGas, by mutual consent,
with immediate effect.
The Board of IGas recognises the significant contribution that
Steve has made over his 10 year tenure at the Company, including
charting a course through a period of low oil prices and changing
government policies over shale gas, as well as being instrumental
in the acquisition of GT Energy, the Company's geothermal
business.
The Board believes that the Company is entering into a new phase
where the technical aspects of managing its assets, and the scope
to redirect its portfolio to assist in providing greater energy
security in the UK, including its geothermal business, are rapidly
becoming more pressing. The recent high oil prices now afford the
Company an opportunity to put new emphasis on these matters. Mr
Hopkinson's technical background and extensive experience in
onshore gas operations, with difficult-to-recover reserves and
mature assets will be of great assistance in increasing the
Company's momentum in these areas.
It is the Company's intention to commence a search for a Chief
Executive Officer in due course.
Following these changes, the Board will comprise Chris
Hopkinson, Executive Chairman, Frances Ward, Chief Financial
Officer, Philip Jackson, Non-executive Director, Kate Coppinger,
Independent Non-executive Director.
A search for an additional Non-executive Director is underway,
in order to maintain an appropriate balance of independent
Non-executive Directors and ensure suitable representation and
oversight for the Board committees.
A further announcement will be made as and when appropriate.
Commenting Mr Hopkinson said:
"During his time at IGas, Steve has made a significant
contribution to the development of the Group and I wish him all the
best for the future. I am delighted to welcome Frances to the Board
and I am looking forward to working closely with her to deliver the
next chapter of IGas' development."
Steve Bowler added:
"It has been a privilege to have been involved with IGas for so
many years and to have worked with so many dedicated and talented
employees. Whilst I am disappointed not to be part of the business
going forwards, I am leaving the company on a firm financial
footing, remain a shareholder and look forward to the Company's
continued progress."
For further information please contact:
IGas Energy plc Tel: +44 (0)20 7993 9899
Chris Hopkinson, Interim Executive Chairman
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970
Virginia Bull/Jeremy Ellis
Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/James Asensio
Vigo Consulting Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Finlay Thomson/Kendall Hill
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END
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