Business
Board Appointment
Board Appointment.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n Ascent Resources PLC\n14 January 2008\n\n Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n\n14th January 2008\n\n Ascent Resources plc ('Ascent' or 'the Company')\n Board Changes\n\nAscent Resources plc, the AIM-traded oil and gas exploration and production\ncompany, has appointed Alan Sinclair to the Board as Finance Director.\nFurthermore, Peter Earl is stepping down from his non-executive Board position\nwith immediate effect because of the weight of his responsibilities in his other\nexecutive commitments and Jonathan Legg is reverting from an executive to a\nnon-executive Board role.\n\nAlan Sinclair (50) has 28 years of experience in the oil and gas sector as a\ncorporate advisor, economist and analyst. Most recently he has acted as a\nconsultant for exploration and production companies providing business\ndevelopment and corporate finance advice. Prior to this he had served as\nassociate director with BZW, ING, FBR International and Noble and Company where\nhe worked in equity research.\n\nIn his early career Alan gained experience working with leading companies\nincluding Conoco UK, Wood Mackenzie and Smith New Court (now Merrill Lynch),\nbefore moving to a commercial role in the BG Group.\n\nJohn Kenny, Chairman of the Board of Ascent Resources said, 'We are pleased to\nwelcome Alan to the Board. He brings with him a wealth of experience within the\noil and gas industry as well as the City and we believe he is ideally qualified\nto aid us in developing and enhancing the value of our portfolio of European oil\nand gas projects. Also, with regret, we would also like to thank Peter for his\ninvaluable contribution during the two years he has served on the Board of\nAscent and wish him the very best for the future.'\n\nThe Board has granted Alan Sinclair 1,000,000 options to subscribe for new\nordinary shares in the Company at 11.p per share, exercisable from 14 January\n2009 until 14 January 2013.\n\nThere is no further information required to be disclosed in respect of the above\nappointment pursuant to Schedule Two paragraph (g) of the AIM Rules.\n\n * * ENDS * *\n\nFor further information visit www.ascentresources.co.uk or contact:\n\nJeremy Eng Ascent Resources plc Tel: 020 7251 4905\nHugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477\nMax Hartley Cenkos Securities plc Tel: 020 7...