28 March 2011
REGAL PETROLEUM PLC
("Regal" or the "Company")
The Company is pleased to announce that, following the closing of the increased, recommended partial cash offer made by Energees Management Limited ("Energees Management") on 6 February 2011 and pursuant to the Relationship Agreement entered into between the Company, Energees Investments Limited ("Energees Investments") and JSC Smart Holding UA ("JSC Smart") announced on 3 March 2011, Energees Investments has nominated, and the Company has appointed Oleksii Tymofieiev (alternatively spelt, when translated from the Cyrillic alphabet, Alexey Timofeyev) as an additional Director of the Company with immediate effect. In accordance with the Relationship Agreement, Energees Investments and JSC Smart are entitled to nominate two additional appointees to the Board and any further appointments will be announced at the relevant time.
Mr Tymofieiev is currently First Deputy Chief Executive Officer for Corporate Development and Asset Management of JSC Smart. Prior to joining the Smart Holding Group, Mr Tymofieiev held positions at SJSC Naftogaz Ukrainy (the Ukrainian state oil and gas company), Concern Geo-Alliance UA and SC Ukrgazvydobuvannya, a subsidiary of SJSC Naftogaz Ukrainy.
Robert Wilde and Harry Verkuil will continue in their respective roles as Finance Director and Chief Operating Officer of Regal. Keith Henry will continue in his role as Chairman of Regal and the current, existing Non-Executive Directors of Regal, Adrian Coates and Alastair Graham, will remain in place.
Oleksii Tymofieiev, aged 33, is currently a director of the following company:-
JSC Smart Holding UA
In the last five years he has been a director of the following companies:-
JSC Concern Avek UA
LLC Yaroslavtsev & Partners
State Joint-Stock Company Naftogaz Ukrainy
Unex Bank UA*
Concern Geo-Alliance UA
* Relates to the appointment to a supervisory board.
There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.
For further information please contact:-
Regal Petroleum plc
Keith Henry, Chairman Telephone: +44 20 7408 9500
Robert Wilde, Finance Director
Strand Hanson Limited
Simon Raggett Telephone: +44 20 7409 3494
Citigate Dewe Rogerson
Martin Jackson Telephone: +44 20 7638 9571
This information is provided by RNS