Eland Oil & Gas PLC Directorate Change (7470D)
July 11 2016 - 2:01AM
UK Regulatory
TIDMELA
RNS Number : 7470D
Eland Oil & Gas PLC
11 July 2016
11 July 2016
Eland Oil & Gas PLC
("Eland" or the "Company")
Directorate Change
Eland Oil & Gas PLC (AIM: ELA), an oil & gas production
and development company operating in West Africa with an initial
focus on Nigeria, today announces the appointment of Henry Obi to
the Board as a Non-Executive Director representing Helios Natural
Resources a significant shareholder in Eland. Henry will replace
Richard Norris who has been Helios Natural Resources'
representative on the Board since September 2014. The Board thanks
Richard for his valuable contribution and wishes him well for the
future.
Henry Obi has over 15 years' experience in private equity sector
and is currently a Partner and Chief Operating Officer at Helios
Investment Partners LLP ("Helios") where he responsible for its
operations and serves on Helios' Equity and Credit Investment
Committees. Prior to joining Helios in 2006, Henry was a Partner at
Aureos Advisers Limited where he was responsible for monitoring the
performance of the firm's funds in Africa and Central America and
their compliance with investment policy. Prior to Aureos, Henry
worked for Actis, CDC Group Plc and Dynegy, a US energy trader.
Henry holds a BSc. Architecture and MSc. Architecture from
University of Nigeria, a B.Arch. from University of Nottingham and
an MBA in Finance from the London Business School. He sits on the
Boards of Maris Capital Limited and the Africa Venture Capital
Association. He also served as Chairman of the Africa Regional
Advisory Council of Emerging Market Private Equity Association. He
received Private Equity Africa's Outstanding Leadership Award in
2014 for his commitment to advancing the cause of private equity in
Africa.
Henry Awele Obi's (age 53) current directorships and
partnerships are as follows:
Advance American Style Inc.
African Private Equity & Venture Capital Association
Helios Credit Genpar, Limited
Helios Investment Partners, LLP
HIP Africa Ltd.
HIP Equity I, L.P.
HIP Equity II. L.P.
HIP Equity III, L.P.
Interswitch Limited
Maris Capital Limited
Mr Obi's directorships in the last five years are as follows
Royal Exchange Microfinance Bank Limited
Henry Obi indirectly holds 10,043 voting ordinary shares in
Eland through HIP Equity II, L.P. ("HIP Equity") (representing
0.01% of the current voting ordinary share capital of the Company)
and a further 1,150 non-voting ordinary shares indirectly through
Helios Natural Resources Ltd whose only asset is shares in Eland.
Any monetisation of the indirect stake is at the sole discretion of
Helios Natural Resources Ltd.
Helios Natural Resources Limited holds 54,963,815 voting
ordinary shares in the Company, including those held on behalf of
Mr Obi as described above, representing 29.5% of the current voting
ordinary share capital of the Company. Helios Natural Resources Ltd
also hold 6,296,815 non-voting ordinary shares, including those
held on behalf of Mr Obi.
For further information:
Eland Oil & Gas PLC (+44 (0)1224 737300)
www.elandoilandgas.com
George Maxwell, CEO
Olivier Serra, CFO
Finlay Thomson, IR
Canaccord Genuity Limited (+44 (0)20 7523 8000)
Henry Fitzgerald O'Connor
Nilesh Patel
Panmure Gordon (UK) Limited (+44 (0)20 7886 2500)
Adam James / Atholl Tweedie
Tom Salvesen
Camarco (+44 (0) 203 757 4980)
Billy Clegg / Georgia Mann
This information is provided by RNS
The company news service from the London Stock Exchange
END
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