20th Jun 2006 07:00
BowLeven Plc20 June 2006 20 June 2006 BowLeven plc ('BowLeven' or 'the Company') Appointment of Chief Executive Officer and Update on Philip Rhind Report The Company is pleased to announce the appointment of Kevin Hart as ChiefExecutive Officer of BowLeven. It is intended that Kevin will join the Companyduring the fourth quarter of 2006 from Cairn Energy plc ("Cairn"), where he iscurrently Finance Director. Kevin, who is aged 37, has been Finance Director at Cairn for over eight years,a role which incorporates Board responsibility for financial, commercial, legal,risk management and HR matters. Prior to this Kevin was a senior associatedirector with Deutsche Morgan Grenfell Group specialising in oil and gas sectormergers and acquisitions and is also a non-executive director of Glasgow IncomeTrust plc. He holds a B.Sc. Hons in Physics and Natural Philosophy fromEdinburgh University. Commenting on the appointment Terry Heneaghan, Chairman of BowLeven said: "I amdelighted to welcome Kevin to our Board. He is well known in both the industryand the financial community and brings us a wealth of experience in the upstreamoil and gas business. This appointment augments the strong skills and excellentmanagement already existing at the Company and we look forward to working withhim." Kevin Hart said:"I look forward to helping build BowLeven into a thriving and successfulupstream company. Whilst the challenges of growing an E&P business aresignificant, I believe that BowLeven has an excellent combination of highquality assets and people with which it can succeed." The Company would also like to provide an update on the actions taken followingreceipt of the report ("the Report") from its former Chief Executive Officer,Philip Rhind. A full review was carried out by the Company's solicitors,McClure Naismith, and its auditors, Baker Tilly, and the results reviewed by anindependent director. Following a Board meeting it was determined by theCompany and Noble & Company Limited, the Company's nominated adviser, that therewas no basis for the allegations made in the Report. It was resolved thatneither the Report nor the allegations should be released to shareholders via aRNS announcement. For further information please contact: Kevin Hart 07771 934 974 Mark Froggatt, Noble & Company Limited: 020 7763 2200 Neil Bennett, Maitland: 020 7379 5151 Kevin HartIn accordance with Schedule 2 (g) of the AIM Rules, the following information inrelation to the appointment of Kevin Hart (age 37) as a director of BowLeven isdisclosed: Current directorships and partnerships: Cairn Resources (2002) plcCairn Energy Bangladesh LimitedCairn Energy Management LimitedCairn Oil LimitedCairn Energy Hydrocarbons LimitedCairn Energy Holdings LimitedCairn Energy North Sea LimitedCairn Energy Resources Management LimitedCairn Energy Assets LimitedCairn Energy Exploration and Production Company LimitedCairn Energy Search LimitedCairn Petroleum India LimitedCairn Energy Discovery LimitedCairn Energy plcCairn Energy Malangawa LimitedCairn Energy Lumbini LimitedCairn Energy Karnali LimitedCairn Energy Nepal Holdings LimitedCairn Energy Gujarat Block 1 LimitedCairn Energy Dhangari LimitedCairn Energy Birganj LimitedCairn Exploration (No.1) LimitedCairn Exploration (No.2) LimitedCairn Exploration (No.4) LimitedCairn Exploration (No.6) LimitedCairn Exploration (No.7) LimitedCairn Resources LimitedG.I.T. Securities LimitedGlasgow Income Trust plcVFE Partners Limited Directorships and partnerships held in the past five years: None Save for the information disclosed above there is no other information fallingto be disclosed under Schedule 2(g) of the AIM Rules. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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