28th Feb 2007 13:51
UMC Energy PLC28 February 2007 28 February 2007 UMC ENERGY PLC ("UMC Energy" or "the Company") DIRECTOR APPOINTMENT AND UPDATE The Board of UMC Energy plc (AIM : UEP), the uranium exploration company withassets in Madagascar, is pleased to advise that Mr Glenn Whiddon has agreed tojoin the board with immediate effect. Mr. Whiddon has substantial experience inaccounting, banking, corporate finance and marketing, with extensiveinternational experience in resources in North America, Europe and Russia. Mr.Whiddon is currently executive chairman of Grove Energy Limited and expects tostand down from the Board of Grove upon the completion of its merger withStratic Energy Limited scheduled for mid / late April 2007. The board also advises that it has granted options to subscribe for 1,500,000new ordinary shares in the Company to Mr Whiddon. The options which will expireon 28 February 2010 may be exercised at any time up to their expiry date (unlessMr Whiddon ceases to be a director of the Company during that period, in whichcase the options will lapse if not exercised within 90 days of his ceasing to bea director). 500,000 options have an exercise price of £0.30 per share; 500,000options have an exercise price of £0.60 per share; and 500,000 options have anexercise price of £0.90 per share. Further, the directors advise that the Company has resolved to apply to have itsshares listed on the Toronto Stock Exchange. Further information will beprovided in due course. APPENDIX Further information required by paragraph (g) of Schedule Two to the AIM Rules Full name Glenn Ross Whiddon Age 42 Current directorships Grove Energy Limited Grove Energy (North Sea) Limited Segue Resources Ltd OMEGACORP Limited Rialto Energy Ltd Statesman Resources Limited Olko Uranium Limited Rimfire Finance Pty LtdDirectorships within the last five years Geo2 Limited Pinnacle Associates Limited Grove Energy (UK) Limited (now named Encore (SNS) Limited) Virgo Oil & Gas plc (now named Encore (VOG) Limited Kiyu Resources plc (now named Great Bear Resources plc) Advanced Energy Systems Limited (alternate Director) Glenn Whiddon was appointed as an alternate director of Advanced Energy SystemsLimited (within the meaning of Australian corporate law) for the period fromOctober to December 2003, at which point his alternate directorshipautomatically terminated and he ceased to be a director. On 30 August 2004 thatcompany went into Voluntary Administration (as defined under Australiancorporate law). For further information: Hugh Oram Nabarro Wells & Co Ltd Tel: 020 7710 7400 Annie Richards UMC Energy plc Tel: 020 7514 1480 Charles Vivian Pelham Public Relations Tel: 020 7743 6670 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UEP.L