15 February 2018
Saffron Energy Plc
("Saffron Energy" or the "Company")
Proposed Director Appointment and Trading Restoration
The Company is pleased to announce that it will be introducing Mr. Ilham Habibie at this evening's Coro Energy launch event. Ilham is a well-known Indonesian businessman with over 25 years of experience in energy and aeronautics industries. It is the Company's intention to appoint Ilham Habibie to the Board as soon as practicable, subject to customary NOMAD checks and due diligence.
As previously announced, the Company expects the shares to be restored to trading on AIM on or around 16th February 2018 following the publication of the Admission Document and posting of a circular to shareholders.
James Parsons, Saffron's Chairman, commented
"I look forward to introducing Ilham, who I have known for many years, to investors and to welcoming him to the Board in due course. His appointment reinforces the centrality of South East Asian gas to our new strategy, and he is the first of a number of high profile appointments we intend to reveal in the coming weeks.
Coro Energy, with its new Board, advantaged access to capital and new direction is now initiating its South East Asian gas journey."
For further information please contact:
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Saffron Energy plc / Coro Energy plc Sara Edmonson, Chief Executive Officer James Parsons, Non-Executive Chairman |
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Grant Thornton UK LLP (Financial and Nominated Adviser) Colin Aaronson Jen Clarke Harrison J Clarke |
Tel: +44 (0)20 383 5100 |
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Turner Pope Investments (TPI) Ltd (Broker) Ben Turner James Pope |
Tel: +44 (0)20 3621 4120 |
This information is provided by RNS