SDX Energy PLC Board Changes (1154A)
September 21 2022 - 2:02AM
UK Regulatory
TIDMSDX
RNS Number : 1154A
SDX Energy PLC
21 September 2022
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF
UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 AS AMENDED.
21 September 2022
SDX ENERGY PLC
("SDX" or the "Company")
Board Changes
-- Michael Doyle to step down as Chairman, effective immediately
-- Tim Linacre appointed as Interim Chairman, effective immediately
-- Krzysztof Zielicki, former Vice-President for M&A &
Strategy at Rosneft and formally with senior leadership positions
at TNK/BP and BP appointed to the Board as Non-Executive
Director
-- Strategic hires and implementation of the new vision to be
shared over the coming weeks, focusing on rewarding our
shareholders through disciplined growth, profitability and cash
flow generation
SDX Energy Plc (AIM: SDX), the EMEA-focused oil and gas company,
announces that Michael Doyle has informed the Board of his
intention to step down as Chairman and leave the Board with
immediate effect. Tim Linacre, currently an independent
non-executive director has been appointed Interim Chairman
effective immediately. Michael will continue to act as a consultant
to the Company until 31(st) January 2023.
The Board is also pleased to announce the appointment of
Krzysztof Zielicki as a Non-Executive Director with immediate
effect. Krzysztof has over four decades of experience in the oil
and gas industry. He has held senior leadership positions in
several Energy Majors, including BP, TNK/BP and Rosneft, where he
was Vice President for M&A and Strategy.
A process is underway to appoint a permanent Chairman and an
additional Non-Executive Director to further strengthen the
Company's Board and Governance framework. As part of the review
process, the Company will be making several strategic appointments
in order to implement its new vision focused on disciplined growth,
profitability and cash flow generation through organic and
inorganic opportunities, with the support of its new major
shareholder Aleph Commodities Limited ("Aleph").
Over the coming weeks the Company will share its strategy and
implementation plans to grow production and deliver returns to its
shareholders.
Michael Doyle said:
"With a new, long-term, supportive major shareholder now in
place the time is right for me to step away from the Board. I wish
SDX every success going forward."
Tim Linacre interim-Chairman of SDX said:
"On behalf of the entire Board I would like to thank Michael for
his long years of service and commitment to SDX. He has been
unstinting in his efforts and determination to move SDX forward and
we have all greatly benefited from his wise counsel over the years
of his Chairmanship. I am delighted he has agreed to remain as a
consultant to the Company for the next four months to assist with
Board transition matters.
I welcome Krzysztof to the Board, he brings a wealth of
technical and industry experience and knowledge which will be of
great support to SDX as we embark on the next stage of growth."
Mark Reid, CEO of SDX said:
"I would like to add my personal thanks to Michael for his
support and guidance to me and the executive team.
We are now looking to the future, and I am delighted Krzysztof
is joining the Board. We are already working with Aleph on organic
and inorganic growth initiatives, and I look forward to updating
shareholders on the new vision for SDX and the implementation of
our strategy in the coming weeks."
AIM Disclosures
Krzysztof Antoni Zielicki, aged 65, has held the following
directorships and/or partnerships in the past five years:
Current Directorships/Partnerships Previous Directorships/Partnerships
Rette Farm Holdings Limited Nayara Energy Ltd
Rette Farm Project Limited Catholic Marriage Care Limited
Rette M&A Limited
There are no further disclosures required to be made pursuant to
Schedule 2 paragraph (g) of the AIM Rules.
Ends
Enquiries
SDX Energy plc
Tim Linacre, Interim-Chairman Tel: + 44 (0) 203 219 5640
Mark Reid, Chief Executive Officer
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker to
SDX)
Callum Stewart Tel: +44 (0) 20 7710 7600
Camarco (Financial PR Adviser to SDX)
Billy Clegg/Owen Roberts/Violet Wilson Tel: +44 (0) 203 757
4980
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END
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