San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, announces that Mark Phillips, Non-Executive Director of the Company, informed the Company on 29 June 2020 that he has decided to step down from the Company with immediate effect.
Oisin Fanning, Chief Executive, commented:
"In the four years since Mark joined our board, our Company has transformed and he leaves us as a successful, cash generative oil & gas company. I am very grateful to him for all the support he has given San Leon and I wish him well in his future plans.
"As has been well publicised, our current nominated adviser, Cantor Fitzgerald Europe, will shortly be ceasing its nominated adviser activities and I am pleased to report that we are in the latter stages of the appointment process with our proposed new nominated adviser. Once their appointment is concluded, it is our intention to work with them to review the composition of our board in line with best practice corporate governance. We expect this is a process that will be carried out during the summer and we envisage appointing at least one new Non-Executive Director of the Company as part of it. I will look forward to updating shareholders on this in the coming months."
Mark Phillips commented:
"After a number of years of challenge and endeavour, the business has progressed to a strong financial position and is well positioned going forward. The moment is right for me to step down, and I wish the Company the very best for its future."
KeyFacts Energy: People on the Move