9th May 2006 14:26
Asia Energy PLC09 May 2006 Asia Energy PLC ("Asia Energy" or "the Company") 9 May 2006 APPOINTMENT OF GERARD HOLDEN AS NEW CHAIRMAN Asia Energy is pleased to announce that Mr Gerard Holden has been appointed asthe Company's new non executive Chairman with effect from today. Mr Holden, aged 42, joins the Company following a distinguished career withBarclays Capital. Mr Holden has worked for the Barclays Group for over 20 yearsand in his recent role as Managing Director and Global Head of Mining and Metalshas been instrumental in building Barclays Capital into a leading position inthe Mining and Metals community around the world. Mr Bywater, the Company's Chief Executive said, "I am very pleased to havesomeone with Gerard Holden's outstanding industry credentials joining theCompany, especially with the knowledge he has of the Company's Phulbari CoalProject. As a result of the appointment Mr Chris Eager will step down as Chairman andresign from the board with immediate effect. "The Board of Directors wishes to extend its gratitude to Chris for his hardwork and dedication in taking Asia Energy from its admission to AIM over twoyears ago to this exciting funding and development stage." Mr Holden will be granted 200,000 options in the Company at an exercise price of£4.32 which was the closing mid market price on May 5 2006 with a term of 5years from the date of this announcement. Additional information Gerard Holden has not held any directorships in companies or partnerships in thepast five years. There are no further details in relation to the aboveappointment which require disclosure under paragraph (g) (iii) to (viii) ofSchedule 2 to the AIM Rules. For further information, please contact: Asia Energy Plc +44 (0) 20 7 0791798Steve Bywater, Chief Executive +44 (0) 7776 236588Graham Taggart, Finance Director +44 (0) 7886 268160 JPMorgan Cazenove +44 (0) 20 7588 2828Michael Wentworth-StanleyTanya Chikanza Park Green Communications +44 (0) 20 7493 3713Justine HowarthCathy Malins This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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