TIDMBOIL
RNS Number : 6916D
Baron Oil PLC
30 October 2020
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
30 October 2020
Baron Oil Plc
("Baron" or "the Company")
Board Changes
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration
company, today announces the retirement of Dr Malcolm Butler,
Executive Chairman, who has served the Company in both executive
and non-executive roles since 2015. His departure from the Board
will take effect from today's date but he will continue to act as
an Advisor to the Company until 31 March 2021.
The Company is pleased to announce the appointment of John
Wakefield as independent non-executive Chairman and the appointment
of Jon Ford, previously non-executive Director, as Technical
Director, both with immediate effect. Andy Yeo, who was previously
Managing Director, now becomes Chief Executive of the Company with
immediate effect.
John Wakefield - independent non-executive Chairman
John is an experienced quoted company director and corporate
adviser, having previously worked at several nominated adviser
firms. He qualified as a solicitor with McKenna & Co (now CMS
Cameron McKenna) and was a lecturer in law at the University of
Newcastle before moving into corporate finance, first with Williams
de Broë Limited and then at Rowan Dartington & Co Limited,
where he was a founder director, shareholder and head of corporate
finance. He was a corporate finance director of WH Ireland Limited
from 2009 until 2016. He is currently a non-executive director at
Drumz plc (AIM: DRUM.L), The Eternal Business Consultancy Limited,
and Ovation Finance Limited. He has been a member of the AIM
Advisory Group, chairman of the London Stock Exchange Regional
Advisory Group for the South West, and chairman of South West Angel
and Investor Network Limited (SWAIN). He holds a Bachelor of Civil
Law degree from Oxford. John will assume the role of Chair of the
Remuneration and Audit Committees.
Jon Ford - Technical Director
Jon has more than 39 years' experience in the upstream oil and
gas industry in a variety of roles in petroleum geoscience and
senior management. He has been involved in successful exploration,
development and production projects in the UK, Netherlands,
Romania, Tunisia and Indonesia among others. Following an initial
10 years with BP in the UK, Jon has worked worldwide in the junior
sector as a senior technical manager for listed oil companies
including Clyde Petroleum, Paladin Resources and Stratic Energy,
and advised multiple clients as a consultant. He has been a
non-executive director of Baron Oil since April 2019. Jon has a BSc
in Geology & Geophysics from Durham University and is a Fellow
of the Geological Society.
Andy Yeo, Chief Executive commented...
"After a long and distinguished career in the Oil & Gas
industry including five years with Baron Oil, at the age of 72
Malcolm has decided to step down from public company involvement to
concentrate on his voluntary sector and academic interests. He is
Founding Chairman of the UK Onshore Geophysical Library, a
registered charity that provides open access to an extensive
database of geological and geophysical information on the
subsurface of onshore Britain, and a Director of its academic
offshoot, the Beneath Britain research group, based at Oxford
University.
On a personal note, having worked closely with Malcolm over the
last decade both at Wessex Exploration and Baron, I will miss his
wise counsel and good humour, as well as his willingness to share
his prodigious technical expertise and experience. I join the Board
in acknowledging with much gratitude the significant contribution
he has made to Baron and we wish him the very best in the next
chapter of his life."
John Wakefield, independent non-executive Chairman of Baron
commented...
"I am passionate about working with quality, growing companies
and in finding the best solution to fit their business
requirements, whether that is funding, advising on transformative
transactions or acting as a sounding board with input on strategy
and tactics on commercially sensitive issues. I am now putting into
practice the experience I have garnered from the past 30 years and
am very much looking forward to working with the team at
Baron."
Pursuant to the AIM Rules for Companies, the following
information is disclosed in relation to Mr Wakefield.
John Nigel Wakefield, aged 66, is, or has during the last five
years, been a director or partner of the following companies and
partnerships:
Current directorships or Past directorships or
partnerships partnerships
Drumz Plc South West Angel and Investor
Network Limited
------------------------------
Ovation Finance Limited
------------------------------
The Eternal Business Consultancy
Limited
------------------------------
Mr Wakefield does not currently hold any ordinary shares in the
Company.
For further information, please contact:
Baron Oil Plc +44 (0)20 7117 2849
Andy Yeo, Chief Executive
Allenby Capital Limited +44 (0)203 328 5656
Nominated Adviser and Joint Broker
Alex Brearley, Nick Harriss, Nick Athanas
Turner Pope Investments (TPI) Limited +44 (0)20 3657 0050
Joint Broker
Andy Thacker, Zoe Alexander
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END
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