Annual Report, Notice of AGM and Board Change

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

1 May 2018

Cabot Energy Plc

("Cabot Energy" or the "Company")

Annual Report and Notice of Annual General Meeting

Board Change

Cabot Energy (AIM:CAB), the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, announces the publication of the 2017 Annual Report and Accounts and the Notice of Annual General Meeting. The Company also announces that Jon Murphy, Non-executive Chairman, has given notice of his intention to step down from the Board once a successor has been found.

Annual Report and Accounts and notice of AGM

The 2017 Annual Report and Accounts, along with the Notice of AGM has been published on the Company's website (www.cabot-energy.com). The AGM will be held at 14:30 on 23 May 2018 at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London, EC4R 3TT.

A copy of the Annual Report and Accounts along with the Notice of the AGM has been posted to shareholders.

Board change

Mr Murphy has been Non-executive Chairman of the Company since September 2013 and will be standing down from his position once a new independent Non-executive Chairman has been found. Iain Lanaghan, the Company's Senior Independent Director, will now lead the process to identify and appoint the next Chairman.

Jonathan Murphy, Non-executive Chairman, commented:

"Working alongside the executive management team, we have built Cabot Energy into a business with a sound operational and financial base, supportive investors and a clear pathway to growth which we have already started to capitalise on. With this in mind, I am confident in my decision to step down as Chairman once a suitable replacement has been recruited. My successor will have a wonderful opportunity to nurture the business through the next phase in its evolution into a full cycle and profitable E&P business of scale.

"I thank shareholders, employees and advisors for their support over the last four and a half years. As a shareholder I will follow the Company's progress with great interest." 

Iain Lanaghan, Senior Non-executive Director, commented:

"The Board thanks Jon for his guidance and exhaustive energy in leading the business through what has been a transformative period. I am pleased that we will have his counsel during the handover period. The board has initiated a governance committee with specialist advisors to search for a new independent Non-executive Chairman on which we will update the market in due course."

For further information please contact: