Ramco Appoints New Non-Executive Director

Ramco has appointed Mark Nicholas Groves Gidney to the Board of Ramco as a Non-Executive Director with immediate effect.

Groves Gidney is currently a director of the following companies: Environmental Geosciences Limited, Exploration Geosciences Limited ("EGL"), and Trap Oil Limited. During the last five years, Groves Gidney was also a director of ExpGeo Limited, Foresight Oil Limited, Eagle HC Limited and EG Royalties Limited.

Mark will shortly resign as Managing Director of EGL to concentrate on his new role as Chief Executive of Trap Oil Limited, a new UK E&P company, and also to take up this Non-Executive role with Ramco. Ramco recently concluded the acquisition of Eagle HC Limited ("Eagle") from Mark Groves Gidney and others ("the EGL Vendors") and appointed EGL as its technical advisers to help acquire and manage a non-UK oil and gas portfolio.

Mark is proven explorer with over 25 years of experience in international petroleum exploration with a strong track record in generating prospects, acquiring and managing exploration portfolios and in building strategic relationships with oil companies and contractors. His technical background, industry contacts and experience will strengthen the Ramco Board as it builds a diversified energy portfolio.

As a result of the recent Eagle acquisition, Groves Gidney is beneficially interested in 1,252,094 ordinary shares in Ramco, equivalent to 3.0%. of the issued share capital and the voting rights of the Company. Under the terms of the Eagle acquisition further shares may be issued to the EGL Vendors in the future, if a certain milestone is reached.

Groves Gidney has confirmed that there are no other matters to be disclosed in relation to Schedule 2 (g) of the AIM Rules.

Steve Remp, Ramco's Chairman, commented, "I am delighted to have Mark as a Board member. He brings a combination of outstanding energy contacts, extensive deal-making experience and hands-on technical skills as founder and Managing Director of EGL, one of the industry's leading consultancies. Mark's impending departure from EGL to pursue other ventures opened a timely opportunity for Ramco to secure his ongoing input into our turnaround story."


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Orlando, FL
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Chicago, IL
HR Advisor
Expertise: Cementing|HR - General
Location: Mt Braddock, PA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours