Business
Board changes
Board changes.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n \n \n London, 14 February 2023\n \n \n \n \n \n \n Board changes\n \n \n \n Nostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\" or the \"Company\"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin,\n announces, following the completion of the restructuring of the Group's US$725 million 8.0% Senior Notes due July 2022 and the US$400 million 7.0% Senior Notes due February 2025, in each case issued by Nostrum Oil & Gas Finance B.V. (the \"Restructuring\"), the following changes to the Board effective from today, 14 February 2023:\n \n \n · \n Atul Gupta has stepped down as Executive Chair and from the Board;\n \n \n · \n Sir Christopher Codrington, Bt, Martin Cocker and Kaat van Hecke have each stepped down from the Board;\n \n \n · \n Stephen Whyte has been appointed as Independent Chair and a Non-Executive Director;\n \n \n · \n Martin Gudgeon has been nominated by the trustee of the warrants issued in connection with the Restructuring as the Warrant Director and has been appointed as a Non-Executive Director;\n \n \n · \n Chris Cox, Christopher Hopkinson and Fiona Paulus have each been appointed as Independent Non-Executive Directors.\n \n \n Arfan Khan remains as the CEO and a Director of the Company.\n \n \n \n Atul Gupta, the previous Chair of the Company, commented:\n \n \n \n \n \"I am delighted the restructuring has completed and the Company can embark on its plans to create significant stakeholder value. I would like to thank the outgoing Directors for their tremendous effort particularly through the restructuring process and would like to wish the incoming Board and staff every success for the future.\"\n \n \n \n \n Stephen Whyte, the new Chair of the Company, said:\n \n \n \n \n \"I am pleased that Nostrum has attracted such a high caliber new Board of Directors to support our strong executive team. I am confident they will play an important role in helping to unlock the value of the Group's world-class gas processing infrastructure in Kazakhstan whilst guiding the executive team in safeguarding the base business.\" \n \n \n \n Brief biographies of each of the new Directors are provided below:\n \n \n \n Stephen Whyte\n \n \n \n Stephen W...