Oracle Power PLC Board Appointment (8110K)
July 12 2017 - 2:00AM
UK Regulatory
TIDMORCP
RNS Number : 8110K
Oracle Power PLC
12 July 2017
12 July 2017
ORACLE POWER PLC
("Oracle" or the "Company")
Board Appointment
Oracle Power PLC (AIM:ORCP), the UK energy developer of a
combined lignite coal mine and mine mouth power plant located in
the Thar desert in the south-eastern Sindh Province of Pakistan,
today announces the appointment of Mr Mark Steed to its Board of
Directors, as a Non-executive Director, with immediate effect.
Mr Steed's appointment is intended to strengthen the Company's
Board for its next stage of development and project delivery of
Block VI, Thar Coalfield, Sindh, Pakistan, as well as to increase
the Company's access to a wider international investor base, and to
identify new diversification opportunities for Oracle to deliver
early cash flows.
Mr Steed has had a career in the field of international stock
and commodity markets, the management of offshore hedge funds,
corporate finance and trading in securities in emerging economies.
He has worked with and set up various portfolio and fund management
companies, in the roles of Chief Executive Officer, Chief Financial
Officer and Compliance Officer. Notably he has been involved in the
set up of Amstel Securities LLP, City Capital Securities Limited,
Shard Capital Partners LLP and the Sion Hall Family Office.
Anthony Scutt, Chairman of Oracle, said:
"It is with pleasure that I welcome Mark to our Board. His
distinguished expertise in the field of corporate finance and the
administration and management of offshore hedge funds will be of
considerable value to the broader development of the Company."
Mr Mark Wickham Steed, aged 64, is, or has been, a director or
partner of the following companies or partnerships during the past
five years:
Current directorships Former directorships
and/or partnerships and/or partnerships (within
the last five years)
Amstel Fund Management
Limited Aesculus Press Limited
Amstel Securities LLP CCSL Limited
Amstel Securities UK
Limited INDIEMOVIESONLINE Limited
Financial Trading & Consultancy SAM Capital Partners
Limited Ltd
Fotunate City Investment
Ltd SSG Holdings Limited
KAV Invest Holding AG The Downside Settlement
Realworld Capital Management Cars Drive LLP
Ltd
Sion Hall Family Office
Ltd
On 9 December 1998, Global Portfolio Management Limited, a
company of which Mr Mark Steed was a director at the time, was
placed into creditors' voluntary liquidation with an estimated
deficiency as regards creditors of GBP145,327. The liquidation
process concluded and Global Portfolio Management Limited was
dissolved on 6 June 2000.
Mr Steed has a beneficial interest in 342,500 ordinary shares of
0.1 pence each in the capital of the Company, which represents
0.04% of the issued share capital of Oracle.
There is no further information required to be disclosed in
respect of the above appointment pursuant to paragraph (g) of
Schedule 2 of the AIM Rules for Companies.
For further information:
Oracle Power PLC +44 (0) 203
Shahrukh Khan 580 4314
Grant Thornton UK LLP (Nominated
Adviser)
Salmaan Khawaja, Richard Tonthat, +44 (0) 207
Daniel Bush 373 5100
Brandon Hill Capital Limited
(Joint Broker) +44 (0)203
Oliver Stansfield 463 5000
Peterhouse Corporate Finance
(Joint Broker) +44 (0)20 7220
Charles Goodfellow 9791
Blytheweigh
Tim Blythe, Camilla Horsfall, +44 (0) 207
Megan Ray 138 3204
Fortbridge +44 (0)7966
Matt Beale, Bill Kemmery 389196
The information contained within this announcement is considered
to be inside information, for the purposes of Article 7 of EU
Regulation 596/2014, prior to its release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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