Phoenix Global Resources plc announced a change to the composition of the Board. Under the Relationship Agreement between Upstream Capital, Mercuria EAM and Mercuria EG, as more fully described in the Admission Document dated 24 July 2017, the Mercuria Group currently has the right to appoint two directors to the Board. Matthieu Milandri and Guillaume Vermersch are the current appointees. With effect from 14 November 2018 Guillaume Vermersch has stepped down from the Board to be replaced by Daniel Jaeggi as one of the Mercuria Group appointees. Daniel is co-founder and President of Mercuria Energy Group Limited. In addition, the company announced the appointment of Tim Harrington as a Non-executive director with effect from 14 November 2018. Tim Harrington has over 37 years of oil and gas experience and spent 31 years with BP PLC in various commercial, financial, and operating leadership positions around the globe including postings in Houston, Anchorage, London, and Bogota. In his final two roles with BP, he served as CFO and President of BP America Production Company, BP's onshore business focused on unconventional resources. Since leaving BP, he has been working with private equity and various start-ups in the US and currently serves as a Senior Energy Advisor to Trilantic Capital Partners, Mercuria Energy Trading, and Bayswater Exploration & Production.