28th Feb 2019 15:17
LONDON (Alliance News) - Nostrum Oil & Gas PLC on Thursday said it has approved an appointment of Ralph Tavakolian Morgan as an alternative director who may act for Non-Executive Director Michael Calvey in his absence.
On Monday last week, oil & gas producer Volga Gas reported that four employees of Baring Vostok Capital Partners Group Ltd, including Volga Gas' Non-Executive Director Calvey, have been arrested and detained at the order of a Moscow district court.
Baring Vostok believes the charges against the four persons are related to an ongoing commercial dispute between shareholders of Russia's Vostochny Bank.
Morgan is industry partner of Natural Resources at Baring Vostok. Prior to that Morgan worked as managing director at Goldman Sachs in the Global Natural Resources Group where he was responsible for the investment banking division's advisory work with natural resource clients in Russia.
Nostrum shares were trading 0.1% higher on Thursday at 97.90 pence each.
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