14th Jul 2005 10:56
White Nile Limited14 July 2005 14 July 2005 White Nile Limited ('White Nile' or 'the Company') 'Appointment of Directors' White Nile Ltd, the AIM listed oil and gas exploration company, is pleased toannounce that it has appointed Dr Lual Acuek Deng and Mr Edward Abyei Lino asNon Executive Directors to the Board with immediate effect. The appointments are in line with the agreement between White Nile Ltd, NilePetroleum Corporation Limited ('NPC') and the New Government of Southern Sudanthat was disclosed in the admission document dated 19th May 2005. Following theconclusion of the transaction, whereby NPC was issued 155,000,000 White Nileshares in return for an interest in a petroleum concession (Block Ba) inSouthern Sudan, NPC had the option to appoint two representatives of NPC to theBoard of White Nile. Dr Deng is currently an economic advisor to the New Government of SouthernSudan's Economic Commission. A citizen of United States of America, Dr Deng hasbeen heavily involved in the political and economic development of SouthernSudan. He has been a consultant amongst others to the World Bank, the UnitedNations, the United States Agency for International Development and theInter-Governmental Authority on Development in the Horn of Africa. Prior to thishe held various positions with the African Development Bank. Dr Deng has a PhDin Development Economics from the University of Wisconsin, an MSc in Economicsfrom Iowa State University, a Masters in Biostatistics from the University ofAlexandria and a BSc in Economic Statistics from the University of Khartoum. Mr Lino is currently a Director of Nile Petroleum Corporation Limited theSouthern Sudanese national oil company. He is Director of Security for theRegional Development Corporation of Southern Sudan for which he was a founder.Mr Lino trained as a lawyer at Khartoum University. He has been heavily involvedin the political and economic development of the New Government of SouthernSudan and in implementing strategic initiatives particularly with regard to theoil industry. White Nile Chairman Phil Edmonds said: "It was agreed at a very early stage thatNPC should have representatives on the Board. The appointment of Lual Deng andEdward Lino not only fulfils this agreement but further strengthens therelationship between the Company and the people of Southern Sudan. They bothbring a wealth of experience of business and regional knowledge which willdefinitely assist in the development of White Nile. I would like to take thisopportunity in welcoming them to the Board and I hope together we can worktowards creating a strong presence within Southern Sudan and its surroundingcountries and helping in the enhancement of this region's oil potential." Information required to be disclosed pursuant to paragraph (g) of Schedule Twoof the AIM Rules. Lual Acuek Deng, aged 55, is or has been a director of the following companiesduring the previous five years: Current directorships Past directorshipsNile Commercial Bank Ltd None Edward Abyei Lino, aged 59, is or has been a director of the following companiesduring the previous five years: Current directorships Past directorshipsNile Petroleum Corporation Ltd None Neither Dr Deng nor Mr Lino has any interest in any shares in the Company. Thereis no further information required to be disclosed in respect of the aboveappointments pursuant to Schedule Two paragraph (g) of the AIM Rules. * * E N D S * * Issued on behalf of White Nile Ltd by St Brides Media & Finance Ltd, 46 BedfordRow, London WC1R 4LR. Contacts: Phil Edmonds White Nile Ltd Tel: 0845 108 6060Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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