28th Jan 2019 17:36
LONDON (Alliance News) - Faroe Petroleum PLC on Monday said that Bjorn Dale and Orjan Gjerde have been appointed as chair and non-executive director of the company respectively, with immediate effect.
Furthermore, Chair John Bentley, Chief Executive Officer Graham Stewart, Chief Operating Officer Helge Hammer, Chief Financial Officer Jonathan Cooper and Independent Non-Executive Director Roger Witts have resigned as directors of the company.
In Mid-January, Faroe was acquired by DNO ASA in a hostile takeover of the company at 160 pence per share. Currently, DNO owns more than 75% of Faroe and plans to remove it from the London Stock Exchange's AIM market.
Faroe shares were trading down 0.1% at 160.00p each.