Cluff Natural Resources plc Change in Board Roles (5103E)
February 12 2018 - 2:00AM
UK Regulatory
TIDMCLNR
RNS Number : 5103E
Cluff Natural Resources plc
12 February 2018
12 February 2018
Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector:
Natural Resources
Cluff Natural Resources Plc ('CNR' or 'the Company')
Change in Board Roles
Cluff Natural Resources Plc, the AIM quoted natural resources
investing company, announces that Algy Cluff, Chairman and Chief
Executive Of cer ('CEO'), has informed the Board of his intention
to step down as Chief Executive, but to remain as Chairman of the
Company, to allow him to commit time to other interests. Graham
Swindells, currently Finance Director, will succeed Algy Cluff in
the capacity of CEO. The Company intends to make an appointment to
fill the finance role in due course, but this is not expected to
entail a Board appointment.
As Chairman, Algy Cluff will continue to be actively involved in
supporting the on-going development of the business and, as a
significant shareholder, remains fully committed to the
Company.
These changes in Board roles will take effect from 28 February
2018.
Commenting Algy Cluff said:
"I have committed myself to our Company since its inception, but
I am now at the stage where I wish to step back from my full-time
role to allow me to commit time to other interests, including the
launch of a new charity. I have had the good fortune to be the
primus inter pares with two excellent colleagues, either of whom
could succeed me. We have collectively agreed that that colleague
should be Graham Swindells, thereby allowing Andrew Nunn to
concentrate exclusively on our North Sea objectives. I look forward
to continuing to work with the team and support the development of
the Company as Chairman."
Commenting Graham Swindells, said:
"On behalf of the Board I wish to express our utmost
appreciation to Algy for his tireless commitment as CEO of the
Company. I am excited about the prospect of building on the
foundations laid by Algy and continuing to develop the business
with the benefit of his on-going support. Our existing oil and gas
assets are highly prospective and with additional licence awards
anticipated when the UK's 30(th) Licencing Round is announced in Q2
2018, we are well positioned to develop a diversified portfolio of
exploration assets from which to create value for our
shareholders."
**ENDS**
For further information please contact the following:
Cluff Natural Resources Tel: +44 (0) 20 7887
Plc 2630
Algy Cluff / Graham Swindells
/ Andrew Nunn
Allenby Capital Limited (Nominated Tel: +44 (0) 20 3328
Adviser & Broker) 5656
David Hart / Alex Brearley / Asha
Chotai (Corporate Finance)
Chris Crawford / Katrina Perez
(Corporate Broking)
St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Lottie Wadham / Frank Buhagiar
(Financial PR)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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