– NETHERLANDS, Amsterdam – Nostrum Oil & Gas PLC (LSE: NOG), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, is pleased to announce the appointment by the Board on 16 November 2017 of Mr Simon Byrne as a Non-Executive Director and Mr Martin Cocker as an Independent Non-Executive Director, with effect from 16 November 2017. Mr Cocker will also become a member of the Audit Committee.
Mr Byrne succeeds Mr Pankaj Jain, who steps down from the Board of the Company with effect from 16 November 2017, as the representative of Mayfair Investments B.V., the Company’s largest shareholder. Mr Jain has been appointed as an Alternate Director who may act for Mr Byrne in his absence with effect from the same date.
Mr Byrne is the Chief Executive Officer of Steppe Capital Pte Ltd, an investment holding company and international family office based in Singapore. Steppe Capital holds an indirect interest in Nostrum through Mayfair Investments. Prior to joining Steppe Capital in 2008, Mr Byrne worked in corporate and investment banking for 22 years, including 17 years with ABN AMRO Bank and RBS Global Banking & Markets where he served as a Managing Director covering the oil & gas sector. Prior to that he held positions with Asahi Bank and Manufacturers Hanover Limited.
Mr Cocker is a chartered accountant with over 30 years’ business experience. He has held several line management, project leader and CEO level positions and currently is an Independent Non-Executive Director and chairman of the audit committee at Etalon Group PLC and TCS Group Holdings PLC, both of which are Russia-based entities listed on the London Stock Exchange, at a UK National Health Service Foundation Trust and at a UK Building Society. Mr Cocker is a member of the investment committee of Pride Capital, and previously held senior positions with Deloitte & Touche, KPMG, Ernst & Young and Amerada Hess.
Mr Atul Gupta, Nostrum’s Chairman, commented: “We are delighted to strengthen Nostrum’s Board by welcoming Simon and Martin as a Non-Executive Director and Independent Non-Executive Director, respectively. Their combined years of extensive business experience and strong backgrounds in the oil and gas and financial services sectors will further reinforce Nostrum’s position as a leading independent exploration and production company.
We also wish to thank Mr Pankaj Jain for his contribution to the Company during his five years as a Non-Executive Director on Nostrum’s Board. We are pleased that we will be able to continue to draw on his expertise while he maintains his relationship with the Company through his role as Alternate Director.”
About Nostrum Oil & Gas PLC
Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye field.
For more information : http://www.nostrumoilandgas.com
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