Petro Matad Limited Result of AGM and Board changes (4171B)
September 20 2018 - 6:09AM
UK Regulatory
TIDMMATD
RNS Number : 4171B
Petro Matad Limited
20 September 2018
20 September 2018
Petro Matad Limited
("Petro Matad" or the "Company")
Result of AGM and Board changes
Petro Matad (AIM: MATD), the AIM quoted Mongolian oil explorer,
announces that at the Company's annual general meeting held today
in Mongolia, all resolutions put to the meeting were duly
passed.
The Company further notifies the appointment, effective today,
of Mrs Shinezaya Batbold as Non-Executive Director. Mrs Shinezaya
is a Mongolian citizen and her appointment is on the nomination of
Petrovis Matad Inc, the Company's largest shareholder. Mrs
Shinezaya is the CEO of Petrovis Venture Capital LLC, one of the
first local venture capital funds investing into multiple SME
sectors in Mongolia. She was a Vice President of Petrovis LLC from
2010 to 2012 and currently holds a number of board and chair
positions in diversified business sectors in Mongolia, including
Board Member of Petrovis LLC and Chairperson of UNIGAS LLC, a gas
distribution company in Ulaanbaatar. She is a graduate of
Northeastern University, Boston, MA.
Mrs Shinezaya replaces her mother, Dr. Oyungerel Janchiv, on the
Board of the Company. As previously announced, Dr. Oyungerel
retired from her position as Non-Executive Director effective
today.
Commenting on the Board changes, Petro Matad Chairperson Mrs
Enkhmaa Davaanyam said:
"The Company is extremely grateful for the diligent service and
support given by Dr. Oyungerel as a founder and Board member of the
Company over many years. We wish her well in her many continuing
endeavours.
The Board is delighted to welcome Mrs Shinezaya and we look
forward to working with her in the next exciting phase of the
Company's development."
For more information, please contact:
Petro Matad Limited
+97 670 141 099 / +97 675 751
Mike Buck, CEO 099
Stockdale Securities Limited (Nominated Adviser and Broker)
Richard Johnson
Andy Crossley +44 (0) 20 7601 6100
Stifel Nicolaus Europe Limited
(Broker)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield +44 (0) 20 7710 7600
FTI Consulting (Communications Advisory Firm)
Sara Powell
Ben Brewerton +44 (0) 20 3727 1000
Additional disclosures
The following further information is disclosed under Rule 17 or
Schedule 2(g) of the AIM Rules for Companies in respect of the
appointment of Shinezaya Batbold, aged 35:
Current Directorships
Almandine Capital LLC
Almandine Capital GmbH
Petrovis Venture Capital LLC
Petrovis LLC
Unigas LLC
Mrs Shinezaya has a direct interest in 2,000,000 Petro Matad
ordinary shares (0.3%). In addition, she is deemed to be a member
of the Petrovis Concert Party, whose total holding comprises
195,849,199 Petro Matad ordinary shares (29.6%).
About Petro Matad
Petro Matad is the parent company of a group focussed on oil
exploration, as well as future development and production in
Mongolia. At the current time, Petro Matad holds 100% working
interest and operatorship of three Production Sharing Contracts
with the Government of Mongolia. Block XX has an area of 10,340
km(2) in the far eastern part of the country, and Blocks IV and V
have an area of 28,900 km(2) and 21,100 km(2) , respectively, in
the southwest part of the country.
Petro Matad Limited is incorporated in the Isle of Man under
company number 1483V. Its registered office is at Victory House,
Prospect Hill, Douglas, Isle of Man, IM1 1EQ.
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END
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