Stratic Energy Announces Changes in Board of Directors
Stratic Energy announced Mr. Hugh G Ross resigned yesterday as a non-executive director of the company. This follows the recently announced sale of shares in Stratic by Gentry Resources Ltd ("Gentry"), of which Mr. Ross is President and Chief Executive Officer.
Sir Graham Hearne, Chairman of Stratic, paid tribute to Mr. Ross: "Hugh Ross, as founder and former President and Chief Executive of Stratic, has made a significant contribution towards establishing Stratic as a growing international exploration and production company and we shall miss his lively and supportive presence on the Board. He has elected to step aside as Gentry considers future share dispositions of its remaining shares in Stratic. We understand that the sale of Stratic shares by Gentry has been brought about by the growth requirements of Gentry's ongoing capital programme. We wish Hugh and Gentry well in these endeavours."
Gentry sold 5,000,000 common shares in Stratic on 5 July 2007, leaving a remaining holding at that date of 5,683,839 common shares. Mr. Ross held 78,000 shares in Stratic in a personal capacity at the date of his resignation.
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