THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED
BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE
MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
LONDON, Nov. 20, 2019 /CNW/ -- SDX Energy Plc (AIM:
SDX), the MENA-focused oil and gas company, is pleased to announce
the appointment of Amr Al Menhali as Non-Executive Director of
SDX.
In September 2019, Mr. Al Menhali
was appointed Chief Executive Officer of Waha Capital, SDX's
largest shareholder with a 19.48% interest in the Company. He has a
track record of over 20 years in senior leadership positions across
a number of high profile institutions, with expertise in strategy,
finance, risk, credit and corporate governance. Mr. Al Menhali has
also served on the boards of prominent regional and international
companies in diverse sectors and industry bodies, including the UAE
Banks Federation.
Michael Doyle, Non-Executive
Chairman of SDX, commented:
"We are very pleased to welcome Mr. Al
Menhali to the Board of SDX as a Non-Executive
Director. His appointment demonstrates the ongoing support of our
largest shareholder, Waha Capital. Mr. Al Menhali has significant
experience in senior management and board positions across a number
of high profile institutions in our operating region and we are
looking forward to his contribution and insight as the Company
continues to deliver on its objectives."
Amr Al Menhali, aged 39, has held the following directorships
and/or partnerships in the past five years:
Current
Directorships/Partnerships
|
Previous
Directorships/Partnerships
|
Waha Capital
PJSC
|
Al Hilal
Bank
|
GFH Financial
Group
|
Abu Dhabi Commercial
Bank PJSC
|
|
UAE Banking
Federation
|
|
Abu Dhabi
Finance
|
|
|
Waha Capital PJSC, through its wholly owned subsidiary SDX SPV
Ltd, owns 39,876,803 ordinary shares in the Company although Mr. Al
Menhali owns no ordinary shares in the Company in a personal
capacity ahead of appointment.
There are no further disclosures required to be made pursuant to
Schedule 2 paragraph (g) of the AIM Rules.
About SDX
SDX is an international oil and gas exploration, production and
development company, headquartered in London, United Kingdom, with a principal focus
on MENA. In Egypt, SDX has a
working interest in three producing assets. In the South
Disouq gas field in the Nile Delta, the Company has a 55% operated
interest. In the Eastern Desert, adjacent to the Gulf of
Suez, the Company has two non-operated oil interests; 50% in North
West Gemsa and 50% in Meseda. In Morocco, SDX has a 75% working interest in the
Sebou concession, situated in the Gharb Basin. These producing gas
assets in Morocco are
characterised by exceptionally low operating costs and fixed priced
gas contracts making them particularly resilient in a low oil price
environment. SDX's portfolio also includes high impact exploration
opportunities in both Egypt and
Morocco.
For further information, please see the Company's website at
www.sdxenergy.com or the Company's filed documents at
www.sedar.com.
SOURCE SDX Energy Plc