Path Investments plc Board Changes & Acquisition of Deferred Shares (5056A)
30 Septiembre 2020 - 01:00AM
UK Regulatory
TIDMPATH
RNS Number : 5056A
Path Investments plc
30 September 2020
Path Investments plc
("Path" or the "Company")
Board Changes
Acquisition of Deferred Shares
Path Investments plc (TIDM: PATH) , the energy and natural
resources investment company, is pleased announce certain changes
to the Company's Board.
Board Changes
Director appointments
Path announces two new appointments to the Board. Mr Allardyce
is being appointed with immediate effect and it is proposed that Mr
Tulloch will join the Board on readmission of Path's ordinary
shares to trading on the London Stock Exchange.
John ("Jack") Allardyce, Executive Director
Jack has over 15 years' experience in natural resources,
including 10 years as a leading oil and gas equity research analyst
with a number of UK investment banks. He began his career as a
process engineer working on North Sea projects, before joining the
leading research and consultancy house Wood Mackenzie, specialising
in European upstream and unconventionals. Jack's skillset spans
global asset evaluation, financial forecasting, petroleum
economics, corporate advisory, M&A and equity capital markets.
He graduated from Heriot-Watt University with a degree in Chemical
Engineering.
Nicholas Tulloch, Proposed Non-Executive Director
Nick Tulloch has advised companies on the UK capital markets for
over 20 years, working for several well-known investment banks and
stockbrokers, including Cazenove, Arbuthnot, KBR and Cantor
Fitzgerald. With a particular focus on oil and gas, Nick has worked
on cross-border transactions in many parts of the world. In 2019 he
became Finance Director and then subsequently CEO of Zoetic
International plc transforming the company from its oil and gas
roots to become the first vertically integrated CBD company to be
listed in London. Nick began his career as a solicitor with
Gouldens and he holds a master's degree in law from Oxford
University. Nick stood for parliament in 2017.
Director resignation
Path announces that after four years as a Non-Executive Director
of the Company, Tommaso Corrado has resigned from the Board with
immediate effect in order to focus on his other business
commitments.
Commenting on the changes, Christopher Theis, CEO of Path said :
"We are delighted to welcome both Nick and Jack to the Board. They
both bring valuable experience of DTU, our forthcoming acquisition,
to Path and shall play an important part in monetising the
technology.
"We are sorry to be bidding farewell to Tommaso and would like
to thank him for his hard work and commitment to the Company and
wish him great success in his future ventures."
Acquisition of Deferred Shares
In accordance with Article 3.4(iii) of the Company's Articles of
Association, the Company will acquire the Deferred Shares of
GBP0.039 nominal value per Deferred Share for no consideration with
effect from 5.00 pm today and will then cancel all Deferred Shares
after which no Deferred Shares will remain in issue.
Listing Rule 9.6.13 disclosures
Other than Nick Tulloch's previous role as a director of Zoetic
International plc, Path confirms that there are no further
disclosures to be made in respect of either Jack Allardyce or Nick
Tulloch for the purposes of Listing Rule 9.6.13.
For further information please contact:
Path Investments plc C /O IFC
Christopher Theis
IFC Advisory Limited (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Zach Cohen
Grant Thornton UK LLP (Financial Adviser)
Samantha Harrison 020 7865 2411
Harrison Clarke 020 7184 4384
Keith, Bayley, Rogers & Co. Limited (Broker)
07776 30 22
Brinsley Holman 28
07506 43 41
Graham Atthill-Beck 07
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END
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