Andes Energia PLC Directorate Change (1332K)
September 19 2016 - 2:01AM
UK Regulatory
TIDMAEN
RNS Number : 1332K
Andes Energia PLC
19 September 2016
19 September 2016
Andes Energia plc
("Andes" or "the Company")
Board appointment
The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce
the appointment to the Board of Sir Michael Rake as an independent
non-executive director with effect from today.
Sir Michael Rake, Non-executive Director, aged 68.
Sir Michael is Chairman of BT Group plc as well as Chairman of
payments processing firm Worldpay Group plc, a director of S&P
Global and Chairman of Majid Al Futtaim Holdings LLC.
He was President of the CBI from 2013 to 2015; a member of the
Prime Minister's Business Advisory Group from 2010 to 2015;
non-executive director of Barclays plc from 2008, becoming Deputy
Chairman from 2012 to 2015; Chairman of the private equity
oversight group the Guidelines Monitoring Committee from 2008 to
2013; Chairman of easyJet plc from 2010 to 2013; the first Chairman
of the UK Commission for Employment and Skills from 2007 to 2010.
He was a director of the Financial Reporting Council from 2008 to
2011 and Chairman of Business in the Community from 2004 to 2007.
Sir Michael was a member of the National Security Forum for
2009/2010 and a member of the board of the Prince of Wales
Charitable Foundation from 2010 to 2016.
From May 2002 to September 2007 Sir Michael was International
Chairman of KPMG. Prior to his appointment as International
Chairman he was Chairman of KPMG in Europe and Senior Partner of
KPMG in the UK.
Sir Michael was knighted in 2007. In 2011 he received the
British American Business UK Transatlantic Business Award in
recognition of outstanding business leadership. In 2013, he
received the Channing Award for Corporate Citizenship, was voted
the FTSE 100 non-executive director of the year and received the
ICAEW outstanding achievement award.
Nicolas Mallo Huergo, Chairman of Andes, commented: "We are
extremely pleased to be able to announce the appointment of Sir
Michael to the board. We look forward to being able to benefit from
his tremendous experience and expertise as we advance in the next
stage of our growth and development. It is a honour to welcome Sir
Michael to the board."
Sir Michael Rake commented: "I am delighted to be joining the
board of Andes at this time when there is real optimism for the
Argentine economy and for the role that Andes can play."
Additional information to be disclosed pursuant to Schedule 2(g)
and Rule 17 of the AIM Rules:
Sir Michael Derek Vaughan Rake is currently a director of the
following companies:
BT Group plc
British Argentine Chamber of Commerce
HMQ90 Limited
MDVR Services Limited
Worldpay Group plc
S&P Global
Majid Al Futtaim Holdings LLC
In the past five years Sir Michael has also been a director of
the following companies:
Barclays Bank plc
Barclays plc
Diamond Jubilee Pageant (Rights) Limited
easyJet plc
Henley Festival Limited
Step Up to Serve
The Financial Reporting Council Limited
The Prince of Wales's Charitable Foundation
Sir Michael holds no interest in the Ordinary Shares of the
Company.
Other than the information contained within this announcement,
there is no further information required to be disclosed under Rule
17 and Schedule Two paragraph (g) of the AIM Rules.
For further information, please contact:
Andes Energia plc T: +54 11
Nicolas Mallo Huergo, 5530 9920
Chairman
Alejandro Jotayan,
CEO
Billy Clegg, Head
of Communications
Stockdale Securities Antonio Bossi T: +44 20
David Coaten 7601 6100
Camarco Gordon Poole T: +44 20
3757 4980
Note to Editors:
Andes Energia plc is an oil and gas exploration and production
company focused on onshore assets in South America with a market
capitalisation of circa GBP90m. The Company has its main operations
in Argentina and Colombia.
The Company has approximately 25* MMbbls of conventional 2P
reserves, and it also has certified prospective resources of 640
MMboe, primarily in the Vaca Muerta unconventional development in
Argentina and over 7.5 million acres across South America.
The Company has approximately 250,000 net acres in the Vaca
Muerta formation, which is the second largest shale oil deposit in
the world and the only producing shale oil deposit outside of North
America, currently producing 45,000 boepd. Over 300 wells have
already been drilled and fracked in the Vaca Muerta formation.
Andes is the only AIM quoted company on the London Stock
Exchange with exposure to the Vaca Muerta shale.
The Company currently produces approximately 3,525* boepd in
Argentina and Colombia from six conventional fields in Argentina
and two in Colombia, with positive cash flows generated.
*Includes 100% of Interoil's net reserves and production
This information is provided by RNS
The company news service from the London Stock Exchange
END
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