Lekoil : Directorate Changes

Regulatory Story
Go to market news section
Lekoil Limited - LEK Directorate Changes Released 07:00 21-Apr-2020

RNS Number : 2689K

Lekoil Limited

21 April 2020

21April 2020

Lekoil Limited

('LEKOIL' or the 'Company')

Directorate Changes

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces the resignation of Mr. Hezekiah Adesola Oyinlola and Mr. Thomas Schmitt as Non-Executive Directors.

Further to the implementation of the Company's general and administrative ('G&A') cost reduction measures, Mr. Oyinlola and Mr. Schmitt have voluntarily resigned from the Company's Board of Directors with immediate effect. Following these departures, Mr. Anthony Hawkins will assume the role of Chairman of the Audit Committee, and Mrs. Aisha Muhammed Oyebode will retain her role as the Chairman of the Remuneration Committee.

Hezekiah Adesola Oyinlola, Non-Executive Director, commented, 'As a member of the LEKOIL Board for almost five years, I have had the opportunity to be part of a great team building a collection of world class assets. I am grateful for the opportunity and will remain a strong supporter of the LEKOIL team whom I wish the best of luck in the years ahead.'

Thomas Schmitt, Non-Executive Director, commented, 'It has been a pleasure to be part of the LEKOIL Board and team. I am confident that despite the current challenges within the oil and gas industry, the Company has the wealth of experience, resources and ability to handle what are indeed unprecedented times in the global economy and emerge even better equipped to generate value for all stakeholders.'

Samuel Adegboyega, Chairman of LEKOIL, commented, 'On behalf of the Board, we would like to thank Sola and Tom for their contributions to LEKOIL and wish them both well in their future endeavors.'

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please visit www.lekoil.com or contact:

LEKOIL Limited Ore Bajomo, Investor Relations	[phone]
Strand Hanson Limited (Financial & Nominated Adviser) James Spinney / Ritchie Balmer / Georgia Langoulant	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone] / [phone]
Numis Securities Limited (Joint Broker) John Prior / Emily Morris	[phone]
Instinctif (Financial PR) Mark Garraway / Dinara Shikhametova / Sarah Hourahane	[phone] [e-mail]

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

BOASEIEFSESSEDL

Close

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

©2014London Stock Exchange plc. All rights reserved

Directorate Changes - RNS