Star Phoenix Group Ltd Director appointment (5281J)

TIDMSTA

RNS Number : 5281J

Star Phoenix Group Ltd

14 April 2020

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

14 April 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

DIRECTOR APPOINTMENT

The Board of Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to announce the appointment of Dr. Meng YuFeng, the nominee of Beijing Sibo Investment Management LP ("Sibo"), as a Non-Executive Director to the Board with immediate effect.

The appointment is made pursuant to Sibo's contractual right to appoint up to three Non-Executive Directors to the Board of the Company above 10% shareholding, arising from the subscription agreement entered into with the Company in 2015.

Dr. Meng's career spans over 30 years across the US, Australia, Hong Kong, and China where she held various leadership, management and consulting roles in different sectors including education, aircraft tyre logistics, waste management, real estate, equity investment, banking and Free Trade Zone management and marketing. Dr. Meng has experience in the public sector, project management and finance (particularly in Build-operate-transfer (BOT) or build-own-operate-transfer (BOOT) project financing). More recently, she organized numerous government trade delegations to promote bilateral business cooperation between China and Australia.

Dr Meng holds a PhD in Business Administration from the InterAmerican University and an MBA in Business Administration from the Southern California University.

The Directors are pleased to welcome Dr Meng to the Board of the Company and believe her experience and background will be invaluable as the Company progresses towards potential new business ventures.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

AIM rules disclosures

Dr Meng, aged 50, is, or has during the last five years been, a director or partner of the following companies and partnerships

 
 Current directorships / partnerships     Past directorships / partnerships 
                                           within the last five years 
 Shanghai Hang Lun Trading Co Ltd         Efopy Super Pty. Ltd. 
                                         ---------------------------------- 
 Hanglun (Beijing) Cargo Transportation   North American Property LLC 
  Co Ltd 
                                         ---------------------------------- 
 Crystal Fortune                          North American Property Pty Ltd. 
                                         ----------------------------------

Dr. Meng does not hold any interest in the share capital of the Company.

 
 
   Contact Details 
                                         Cantor Fitzgerald Europe (Nominated 
   Star Phoenix Group Ltd                 Adviser and Broker) 
   Evgenia Bezruchko (Group Corporate     David Porter / Rick Thompson (Corporate 
   Development Manager & Joint Company    Finance) 
   Secretary)                             t. +44 (0)20 7894 7000 
   e. admin@starphoenixgroup.com 
   t. +44 (0)20 3865 8430

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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April 14, 2020 02:00 ET (06:00 GMT)

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