Altona Energy PLC Appointment of Non Executive and Update (1417Q)
June 15 2015 - 4:06AM
UK Regulatory
TIDMANR
RNS Number : 1417Q
Altona Energy PLC
15 June 2015
15 June 2015
Altona Energy plc
("Altona" or "the Company")
Appointment of UK Non-Executive Director
Joint Venture Update
Altona Energy plc is pleased to announce the appointment of Mr
Nicholas (Nick) Lyth as a Non-executive Director to the board of
Altona with immediate effect.
Mr. Lyth is an experienced AIM board director and qualified
accountant with over five years' experience advising a number of
publically quoted companies. He is a Mandarin speaker and has used
this skill in his capacity as a director on the boards of various
AIM companies including Univision Engineering Ltd, China Rerun
Chemical Company Ltd and Taihua plc.
Prior to his recent public company experience, Mr. Lyth was
Group Finance and Purchasing Director of Belle Group, a
manufacturer of engineering equipment operating across Europe, the
US and China. He was also Head of Finance at Fothergill Group, a UK
manufacturer of technical industrial fabrics, between 1996 and
2003. In his early career, Nick was a management accountant at
Courtaulds plc and Rotunda plc.
Mr Zhang, Executive Chairman of Altona, commented, "We welcome
Nick to the board of Altona. He brings with him a wealth of AIM
market and finance experience. We also hope Nick's knowledge of
Mandarin will enhance communications between our UK shareholders
and our Chinese management team."
Joint Venture Update
As announced on 16 April 2015, Altona is in the process of
amending the Joint Venture Agreement for the development of the
Company's Arkaringa coal deposit to reflect a change in the project
focus to underground coal gasification ("UCG"). The discussions
between the joint venture parties are progressing and the Company
hopes to be able to update the market soon with news of the
amendments to the Joint Venture Agreement announced on 14 November
2014.
-ends-
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy plc
Zhang Qinfu, Executive Chairman +44 207 024 8391
Leander (Financial PR)
Christian Taylor- Wilkinson +44 7795 168 157
Northland Capital Partners Limited
(Nominated Adviser and Broker)
Gerry Beaney / Matthew Johnson (Corporate Finance) +44 20 7382 1100
Additional information
Nicholas Lyth, aged 49, is or has been in the past five years a
director of the following companies:
Current Previous
China Rerun Chemical Company NL Consulting Ltd
Ltd
DKG Capital Ltd
DKG Holding Ltd
Taihua plc
Univision Engineering Ltd
Mr. Lyth does not currently have an interest in the ordinary
shares of Altona Energy plc.
There is no further information in relation to the appointment
of Mr. Lyth which is required to be disclosed pursuant to Schedule
Two paragraph (g) of the AIM Rules.
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its
principal focus is on the evaluation and development of the
Company's flagship Arckaringa Project to exploit the significant
coal resources contained in three exploration licences covering
2,500km(2) in the northern portion of the Permian Arckaringa Basin
in South Australia. It is estimated that the resource exceeds 7.8
billion tonnes of coal (1.3 billion tonnes JORC compliant).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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