Business
Board Changes and Director Appointment
Board Changes and Director Appointment.
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[{"type":"text","content":"\n \nRNS Number : 8528X Sterling Energy PLC 11 May 2016 \n\n \n11 May 2016\n \nBoard Changes and Director Appointment\n \nSterling Energy plc (\"Sterling Energy\" or the \"Company\"), the AIM listed oil and gas exploration company (AIM: SEY), today announces that its Executive Chairman Alastair Beardsall will be retiring from the Company with immediate effect after six years of service for personal reasons. Mr Beardsall will also retire from the board of directors of the Company (the \"Board\").\n \nMr Nicholas Clayton, who joined the Sterling Energy board as a Non-Executive Director in October 2009, has been appointed by the Board to succeed Mr Beardsall in the position of Non-Executive Chairman with immediate effect. Mr Clayton has provided strategic and corporate finance advice to a number of public and private oil and gas companies since January 2007. Prior to that, he held a number of senior O&G advisory, finance and banking roles, including Global Co-Head of Oil and Gas Corporate Finance for Canaccord Adams and Global Head of Oil and Gas Corporate Finance for Dresdner Kleinwort Wasserstein. He serves as a Non-Executive Director of Alpha Petroleum Resources Limited and Circle Oil plc, where he is chairman of the Remuneration Committee.\n \nAdditionally, Sterling Energy is pleased to announce the appointment of Mr Michael Kroupeev as a Non-Executive Director of Sterling Energy with immediate effect. Mr Kroupeev has 21 years' experience working within the exploration and production sector. After University in both Russia and the United Kingdom, he began his career working for Dana Petroleum plc as a Director in 1994. In 1995, Mr Kroupeev founded Waterford Finance and Investment Limited (\"Waterford\"). Waterford is an oil and gas focused vehicle, specialising in the financing of oil, gas and other energy related projects in emerging markets. He has been directly involved in the capital raising for natural resource projects and in acquiring, restructuring, developing and divesting such assets. Waterford has a number of substantial shareholdings in oil and gas companies with operations in Europe, Africa, North America and Australasia. \n \nGiven that Waterford and its Associates (together \"Waterford\") beneficially own 65,785,517 Ordinary Shares in the Company, eq...