19th Dec 2012 07:00
19 December 2012
ELAND OIL & GAS PLC
("Eland" or the "Company")
Board Appointments and Director's Shareholdings
Eland Oil & Gas PLC (AIM: ELA) is pleased to announce that with effect from 1 January 2013 Andrew Donald Bartlett and James Lawrence Ede-Golightly will join the Board of Eland as Non-Executive Directors.
Andrew Bartlett (age 55) has over 30 years of experience in the Oil & Gas Industry. Mr Bartlett is currently Oil & Gas Adviser at Helios LLP ("Helios"), the African focused private equity group which has an indirect holding in the Company of 29.4%.
An experienced investment banker, Mr Bartlett was both the Global Head of Oil & Gas Project Finance and Global Head of Oil & Gas M&A at Standard Chartered Bank until July 2011. Between 1980 and 2001 Mr Bartlett worked for Royal Dutch Shell as a Petroleum Engineer and Development Manager where he gained extensive experience in developing and operating oil and gas fields. Mr Bartlett also helped to establish Shell Capital, a private equity/mezzanine debt group set up by Royal Dutch Shell to finance small producers in emerging markets.
James Ede-Golightly (age 33) has a background in investment management and banking including with Merrill Lynch Investment Managers and Commerzbank AG. Mr Ede-Golightly is a non-executive director of ORA Capital Partners Ltd ("ORA"), which has a direct shareholding in Eland of 892,671 shares. ORA is also a company in which Richard Griffiths holds more than a 50% interest. Separate to his interest in Eland held through ORA, Mr Griffiths held, as at admission to AIM on 3 September 2012, a further 12,703,204 shares in Eland.
Rule 17 and Schedule 2, paragraph (g) of the AIM Rules disclosures:
Andrew Bartlett
Andrew Bartlett (aged 55) directorships in the last five years are as follows:
Current | |
Bartlett Energy Advisers Limited The European Centre for Energy and Resource Security ("EUCERS") The Petroleum and Renewable Energy Company Limited Rialto Energy Limited | |
Last 5 years | |
Energean E&P Holdings Harrison Lovegrove & Co. Limited Harrison Lovegrove & Co. (Australia) Limited Harrison Lovegrove & Co. (Washington) Limited HCL (US) Limited Standard Chartered Corporate Finance (Canada) Limited Standard Chartered Corporate Finance (Eurasia) Limited |
Andrew Bartlett shareholdings in the Company:
Under a success fee arrangement with Helios, Bartlett Energy Advises ("BEA") are a Limited Partner in HNR Co-Investment Partners LLP ("HNR Co-Investment"), with Helios as the General Partner, whereby HNR Co-Investment indirectly holds on Andrew Bartlett's behalf, 297,000 ordinary shares in Eland (representing 0.22% of the current issued share capital of the Company) through its investment in Helios Natural Resources Ltd whose only asset is shares in Eland. BEA also own indirectly through the same limited partnership rights to a further 75,000 shares should Helios ever choose to exercise the Helios Option (as disclosed in the Admission Document dated 24 August 2012.) Any monetisation of the indirect stake is at the sole discretion of the General Partner.
Helios hold, through Helios Natural Resources Limited, 39,600,000 ordinary shares in the Company, including those held on behalf of Mr Bartlett as described above, representing 29.4% of the current issued share capital of the Company.
James Ede-Golightly
James Ede-Golightly (aged 33) directorships in the last five years are as follows:
Current | |
Bluebird Energy plc East Balkan Properties Plc Fermain Capital Limited Obtala Resources Limited ORA Capital Partners Limited ORA (Guernsey) Ltd Oraelian Trading Systems Ltd Osceola Royalties LLC Osceola Production LLC Paragon Diamonds Limited | |
Last 5 years | |
Ansco Petroleum Limited Ansco Petroleum (Eastern) Limited Bendell Enterprises Limited Equest Investments Balkans Limited Grandinex Limited Obtala Limited Obtala Resources Plc OCP Investments Limited OCS Trading Limited ORA Capital Limited Novum Securities Limited |
James Ede-Golightly shareholdings in the Company:
James Ede-Golightly has a personal holding of 16,192 shares in the Company (representing 0.01% of the current issued share capital), held through his Retirement Annuity Trust through MD Barnard.
ORA (Guernsey) Ltd, of which James Ede-Golightly is a non-executive director, holds 892,671 shares in Eland (representing 0.66% of the current issued share capital of the Company).
There is no further information to be disclosed under Rule 17 and Schedule 2, paragraph (g) of the AIM Rules in respect of Andrew Bartlett's or James Ede-Golightly's appointments.
Director's Shareholding
George Maxwell's interest, including that of his family (as defined by the AIM Rules) in the Company is 375,797 shares and not as previously stated in the Admission Document. For the avoidance of doubt, Mr Maxwell has not bought or sold any shares in the Company since admission to AIM.
For further information:
Eland Oil & Gas PLC (+44 (0) 1224 737 300)
Les Blair, CEO
George Maxwell, CFO
Canaccord Genuity Limited (+44 (0) 20 7523 8000)
Henry Fitzgerald-O'Connor
Peter Stewart
Rob Collins
Citigate Dewe Rogerson (+44 (0) 20 7638 9571)
Martin Jackson
Jack Rich
Related Shares:
Eland Oil & Gas