Business
Appointment of Board Director
Appointment of Board Director.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0512I Empyrean Energy PLC 14 June 2017 \n\nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n14 June 2017\nEmpyrean Energy PLC (\"Empyrean\" or the \"Company\")\n \nAppointment of Board Director\n \nEmpyrean Energy plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has today appointed Gajendra (Gaz) Bisht as a director of the Company with immediate effect.\n \nMr. Bisht (54) is a petroleum geologist and geoscientist who has worked closely with the China National Offshore Oil Corporation (\"CNOOC\") over the last 10 years in roles with other companies, including Roc Oil Company Limited and AWE Limited. Gaz was initially responsible for introducing to Empyrean the opportunity to evaluate and formally bid for Block 29/11 in the Pearl River Mouth Basin, offshore China (\"Block 29/11\") and will continue to be primarily responsible for the Company's operations in China. In addition, he will support Frank Brophy, the Company's Technical Director, in all of the Company's other appraisal and exploration projects.\n \nThe Company has also been advised that agreement has been reached between Topaz Energy Pty Ltd (\"Topaz\"), a company wholly-owned by Gaz Bisht and of which he is a director, and Frank Brophy, pursuant to which Topaz will transfer to Mr Brophy (or his nominee) 5,000,000 ordinary shares of 0.2p each in the Company (\"Ordinary Shares\") currently held by Topaz for nil consideration. This private arrangement reflects the significant input of both parties to the rapidly-evolving and increasingly-diverse appraisal and exploration portfolio that Empyrean has built up over the last six months.\n \nFollowing the arrangement outlined above, the relevant holdings are as follows:\n \n\n\n\n\nName\n\n\nOrdinary Shares\n\n\n% of issued share capital\n\n\n\n\nTopaz Energy Pty Ltd\n\n\n31,250,000 \n\n\n8.3%\n\n\n\n\nFrank Brophy \n\n\n9,033,000 \n\n\n2.4%\n\n\n\n\n \nEmpyrean welcomes Gaz Bisht to its board of directors.\n \nThere are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.\n \nFor further info:\n \n\n\n\n\nEmpyrean Energy plc\n\n\n\n\n\n\n\...