Board Changes and Corporate Update
09 Octubre 2009 - 11:41AM
UK Regulatory
TIDMUEN
RNS Number : 5772A
Urals Energy Public Company Limited
09 October 2009
Urals Energy Public Company Limited
("Urals Energy" or the "Company")
Board Changes and Corporate Update
Management changes
The company today announces the resignation of Vyacheslav Ivanov as the CEO
and Chairman of the Company effective today. Leonid Dyachenko, a Director and
former CEO of the Company, has assumed the duties as Interim CEO and Executive
Chairman with immediate effect. The Company's Board of Directors (the "Board")
expects to be able to announce the appointment of a permanent CEO shortly.
Strategy
Notwithstanding the changes in the senior management of the Company, the Board
has confirmed that it is resolute in carrying out the Company's existing
long-term strategy and will continue to operate the remaining assets of the
Company after closing of the transaction previously announced with Sberbank and
will consider other strategic options in the future.
Sberbank Negotiations
Further to the update of 18 September 2009, the Company is awaiting the closing
of the deal with Sberbank over the settlement of the remaining portion of the
US$500million loan, which is expected to occur in the near term.
Annual
Report and Accounts and Interim Report
The Annual Report and Accounts for the year ended 31 December 2008 and the
Interim Report for the period ended 30 June 2009 will be published following
completion of the transaction with Sberbank and the completion of certain other
refinancing arrangements. Until publication of the Report and Accounts and the
Interim Report, trading in the Company's shares on AIM will remain suspended. In
the event that the Annual Report and Accounts are not published by 31 December
2009, the Company will be delisted.
Leonid Dyachenko, Chairman, commented:
"I would like to thank Vyacheslav Ivanov for his hard work and efforts in
negotiating the Sberbank deal and keeping up operations of the Company's assets
under difficult circumstances. On behalf of the Board and the Company I would
like to wish him all the best and success in his future endeavors.
"The directors of Urals are determined to continue its current strategy and
restore the Company's listing on AIM. We hope to provide shareholders with a
further update shortly."
9 October 2009
Enquiries:
Allenby Capital Limited +44 (0)20 7510
8600
Rod Venables
Pelham PR +44 (0)20 7337 1500
Mark Antelme
Evgeniy Chuikov
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMLBFTMMJMBML
Urals Energy (LSE:UEN)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Urals Energy (LSE:UEN)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024
Real-Time news about Urals EN. (London Stock Exchange): 0 recent articles
Más de Urals Energy Public Artículos de Noticias