Corcel PLC
("Corcel"
or the "Company")
Board Changes and Management
Update
12 July
2024
Corcel Plc (London AIM:
CRCL), the pan
Angola-Brazil focused exploration and production company announces
that Mr. Antoine Karam will step down from the role of
non-executive Chairman and Mr. Andrew Fairclough will assume
the role of interim non-executive Chairman. Mr.
Fairclough has over 28 years of experience in finance and in the
oil and gas industry having held various Chief Financial Officer
roles in publicly listed companies, as well as having spent 17
years in investment banking at Flemings, Rothschild and Merrill
Lynch. He has extensive experience in corporate governance,
M&A and corporate finance.
The Company also confirms Mr. Scott
Gilbert's appointment as permanent Chief Executive Officer, having
previously been appointed as interim Chief Executive Officer, as
announced on 25th April 2024. Mr. Gilbert will
also be joining the Board as executive Director as soon as the
regulatory checks are concluded.
Corcel also announces that Mr.
Deepak Kohli will no longer be joining the Board.
Corcel interim non-executive Chairman, Andrew Fairclough
commented: "I look forward to
supporting Scott and the management team through this transition
phase as they progress G&G and other efforts in Angola and the
pursuit of M&A opportunities in Brazil under the Collaboration
Agreement signed with Conterp, that we announced this
week."
The Board of the Company will
therefore consist of:
Executive Directors (upon completion
of Mr. Gilbert's regulatory checks):
Mr. Scott Gilbert (Chief Executive
Officer)
Ms. Geraldine Geraldo (Chief
Commercial Officer and MD Angola)
Non-Executive Directors:
Mr. Andrew Fairclough (interim
independent non-executive Chairman)
Mr. Pradeep Kabra (independent
non-executive Director)
Mr. Antoine Karam and Mr. Yan Zhao
(non-executive Directors).
For
further information, please contact:
Corcel Plc:
Scott Gilbert, CEO
Development@Corcelplc.com
WH Ireland (NOMAD & Broker):
James Joyce / James Bavister /Andrew
de Andrade
0207 220 1666
Vigo
Communications (IR):
Patrick d'Ancona
0207 3900 230
The information contained within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014
which is part of UK law by virtue of the European Union
(withdrawal) Act 2018. Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.