Business
Resources Certification and Directorate Change
Resources Certification and Directorate Change.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5933C Sound Energy PLC 23 January 2018 \n\n23 January 2018\n \nSound Energy plc\n(\"Sound Energy\" or the \"Company\")\n \nReceipt of Final Resources Certification\n \nDirectorate Change and Succession Planning\nSound Energy, the North African and European gas company, is delighted to confirm that it has now received the final results of the resources certification in relation to the TE-5 horst core volumes at the Company's Tendrara asset, onshore Morocco (the \"Final Certification\"). The Final Certification, as expected, is entirely consistent with and confirms the preliminary results of the certification announced by the Company on 20 December 2017.\nThe Company also advises that Stephen Whyte, the Company's Non-Executive Chairman, has stepped down from the Board to allow him to spend more time on his recently increased portfolio of other Non-Executive Director companies. Mr. Whyte has resigned as a director of the Company with immediate effect but will remain an adviser to Sound Energy until 31 March 2018.\n \nRichard Liddell has been appointed as Sound Energy's Non-Executive Chairman with immediate effect and will also become the Chair of the Company's Remuneration and Nominations Committees.\n \nMr. Liddell has been a Non-Executive Director of the Company since September 2015 and has over thirty-five years' experience in the oil and gas industry. Richard served on the board of Falkland Oil and Gas from 2005 to 2015 initially as a Non-Executive Director and, latterly, as Chairman. He was Operations Director of Premier Oil from 2000 until 2003 and prior to that spent three years as Director of Development at BG Exploration and Production. \n \nIn anticipation of the Company's medium term development plans, and to ensure that the Company's leadership is augmented suitably over time, the Board, led by the Nominations Committee, will undertake a formal review of succession planning and commence a process to identify and appoint additional Non-Executive Directors to the Board. The Board has also confirmed with James Parsons, the Company's Chief Executive Officer, that he will continue in his current role for the next 12 to 18 months. \n \nFurther announcements will be made, as appropriate, in due course. \n \nRichard Li...