Director appointment

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

14 April 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

DIRECTOR APPOINTMENT

The Board of Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to announce the appointment of Dr. Meng YuFeng, the nominee of Beijing Sibo Investment Management LP ("Sibo"), as a Non-Executive Director to the Board with immediate effect.

The appointment is made pursuant to Sibo's contractual right to appoint up to three Non-Executive Directors to the Board of the Company above 10% shareholding, arising from the subscription agreement entered into with the Company in 2015.

Dr. Meng's career spans over 30 years across the US, Australia, Hong Kong, and China where she held various leadership, management and consulting roles in different sectors including education, aircraft tyre logistics, waste management, real estate, equity investment, banking and Free Trade Zone management and marketing. Dr. Meng has experience in the public sector, project management and finance (particularly in Build-operate-transfer (BOT) or build-own-operate-transfer (BOOT) project financing). More recently, she organized numerous government trade delegations to promote bilateral business cooperation between China and Australia.

Dr Meng holds a PhD in Business Administration from the InterAmerican University and an MBA in Business Administration from the Southern California University.

The Directors are pleased to welcome Dr Meng to the Board of the Company and believe her experience and background will be invaluable as the Company progresses towards potential new business ventures.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

AIM rules disclosures

Dr Meng, aged 50, is, or has during the last five years been, a director or partner of the following companies and partnerships

Dr. Meng does not hold any interest in the share capital of the Company.