TIDMTOM
RNS Number : 8498D
TomCo Energy PLC
02 November 2020
2 November 2020
TOMCO ENERGY PLC
("TomCo" or the "Company")
Board Changes
TomCo Energy plc (AIM: TOM), the US operating oil development
group focused on using innovative technology to unlock
unconventional hydrocarbon resources, announces certain changes to
the board of the Company (the "Board") with immediate effect.
Board Appointments
The Company is pleased to announce the appointment of Robert
Kirchner and Richard Horsman as Non-Executive Directors of the
Company.
Robert Kirchner is an experienced board and oil industry
executive, having spent over 30 years in senior roles in the
industry, including focusing on new technologies and ventures. He
is currently CEO of Cornerstone Energy Africa Ltd, an Africa
focussed oil exploration and production company, and Managing
Director of BCI International, a consulting and financial advisory
business focused on the energy sector. His previous roles include
being COO of African Power Corporation; CFO and Deputy CEO of
Kungur Oilfield Equipment and Services; and CEO of First Africa Oil
plc and Deputy CEO of Sibir Energy plc, when those companies were
quoted on AIM. Robert also spent 13 years with ExxonMobil
Corporation from 1988 to 2001, and worked extensively across Africa
and the FSU. He has dual US/UK nationality.
Richard Horsman has nearly 25 years' executive level experience
with both public and private companies across a range of
industries, with a focus on sales and marketing. He is currently
Non-Executive Chairman of Main Market listed Toople plc, a provider
of broadband, fixed line and mobile telephony solutions to the SME
sector. He was previously Senior Independent Non-Executive director
of Plethora Solutions Holdings plc and CEO of Cybit Holdings plc,
both quoted on AIM. Prior to this, he held several senior roles in
the IT industry, including with Global Telematics plc and The Baan
Company. Between 2011 and the end of 2014, Richard was Chairman and
CEO of Atego Group, a private company providing mission and safety
critical software and consulting services to the aerospace,
military and automotive sectors. Atego was sold to PTC Inc., which
is listed on NASDAQ.
Board Resignations
Stephen West, Non-Executive Chairman, and Alexander Benger,
Non-Executive Director, both expressed their desire to step down
from the Board, given the increasing time commitment required as
TomCo seeks to move to the next stage of its development, in order
to focus on their other business commitments. Both Stephen West and
Alexander Benger have therefore left the Board with immediate
effect.
Appointment of Chairman
Following the resignation of Stephen West, the Company is
pleased to announce that Malcolm Groat, previously a Non-Executive
Director of the Company, has been appointed as the Company's new
Non-Executive Chairman.
Commenting, John Potter, CEO of TomCo, said : "As TomCo moves to
its next stage of development, in particular progressing the work
of the Company's Greenfield Energy joint venture, I am very pleased
to welcome Robert Kirchner and Richard Horsman to the Board.
"Robert is a very experienced oil industry executive whose
skills and experience, particularly in relation to the exploitation
of new technologies, will be invaluable as we move forward. Richard
brings significant public company experience to the Board, coupled
with an important sales and marketing focus.
"With the reorganised Board, I am confident that TomCo has the
right individuals in place to ensure that we can appropriately
progress the commercialisation of the exciting opportunities we
have.
"I would like to thank both Stephen and Alex for their
contributions to TomCo and I understand their need to focus on
their other business commitments. I wish them well in their future
endeavours."
Additional Information
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to:
Robert Alan Kirchner, aged 58:
Current Directorships Previous Directorships (last
5 years)
Cornerstone Energy Africa Ltd African Power Corporation Limited
Polar Petroleum Limited* Psinos Innovation Partners
Polar Petroleum BV
*UK company records indicate that Mr Kirchner's appointment at
Polar Petroleum Limited is still active. Mr Kirchner resigned from
this role on 30 September 2014 and steps are being taken to have
the filing updated to reflect this.
Robert Kirchner holds no ordinary shares in the capital of the
Company.
Richard John Horsman, aged 59:
Current Directorships Previous Directorships (last
5 years)
Toople plc None
J.C. Mackinlay And Co. Limited
Gardien (SEA) Pte. Ltd.
High Lees Farm Partnership
Altar Cottages Charity
Crowhurst Relief in Need Charities
Richard Horsman holds no ordinary shares in the capital of the
Company.
Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g) of
the AIM Rules for Companies.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Richard Tulloch / Jack Botros +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Charlie Brook-Partridge +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Graham Herring +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com .
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END
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