Business
Board Changes and Proposed Name Change
Board Changes and Proposed Name Change.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0235Z Saffron Energy PLC 12 December 2017 \n\n12 December 2017\n \n \nSaffron Energy plc\n(\"Saffron Energy\" or the \"Company\")\n \nBoard Changes and Proposed Name Change\n \nSaffron Energy is pleased to announce, further to the transaction announced on October 5 (the \"Transaction\"), the following changes to the Board of the Company:\n \n· James Parsons, Chief Executive Officer of Sound Energy plc and Chairman of Echo Energy plc has been appointed as Non Executive Chairman of the Company\n· Fiona MacAulay, Chief Executive Officer of Echo Energy plc, has been appointed as a Non Executive Director of the Company\n· Marco Fumagalli, Managing Director of Continental Investment Partners, has been appointed as a Non Executive Director of the Company\n· David Garland has stepped down from the role of Chairman but remains on the Board as a Non Executive Director until completion of the Transaction\n· Kevin Bailey has stepped down from the role of Non Executive Director but remains on the Board as an observer until shareholder approval of the Transaction\n \nSara Edmonson will continue in her role as Chief Executive Officer and a Director of the Company whilst Michael Masterman will step down from the board with immediate effect and Christopher Johannsen will step down from the Board with effect from 31 December 2017.\n \nAs previously announced, and subject to shareholder vote, the Company will be renamed Coro Energy plc. \n \nJames Parsons commented:\n \n\"We see the current environment as one of very real and continuing opportunity for growth focused gas exploration companies with access to high potential acreage, talent and capital. The changes announced today establish Coro Energy as an initial platform from which the company plans to grow significantly, in terms of hydrocarbon, human and financial resources.\n \nI am looking forward to working again with Continental and the new team to quickly establish this company as a successful mid cap player and a growth vehicle of real excitement for our investors.\"\n \n \nDavid Garland commented:\n \n\"Since Saffron's IPO earlier this year Michael Masterman and the...