9 December 2024
Ascent Resources
plc
("Ascent" or the
"Company")
New Joint Venture with Delta
Energy Corp SARL & Board Changes
Ascent Resources Plc (LON: AST) is
pleased to announce it intends to appoint Mr Gilles Thieffry to the
Board as Non-executive Chairman as well as the Company having
created a new joint venture special purpose vehicle with Delta
Energy Corp SARL.
Board Changes
The Company is pleased to announce
its intention to appoint Mr. Gilles Thieffry as Non-Executive
Chairman of the Board. Mr. Thieffry brings a distinguished legal
career spanning over four decades, with exceptional expertise in
capital markets, structured finance, and commodity
trading.
Mr. Thieffry began his career in the
City of London, where he held senior positions at renowned
international law firms, including Norton Rose and Andersen Legal
(Garretts). During this time, he established himself as a leading
practitioner in capital markets and structured finance.
Subsequently, he relocated to Geneva, Switzerland, to establish his
own practice, GTLaw, a boutique law firm specialising in finance
and trade law. The firm is highly regarded for its focus on
commodity trading, finance, capital markets, and international
arbitration.
At GTLaw, Mr. Thieffry continues to
provide counsel to major multinational corporations, with a
practice encompassing commodity finance, structured finance,
capital markets, banking law, commodity trading, and related
arbitration. His extensive expertise is complemented by a prolific
body of published work, including leading articles in legal
journals and the Financial Times, on subjects such as the impact of
the Basel Accords on commodity trade finance, economic and monetary
union, securities law, and the regulation of Eurozone securities
markets. Additionally, he actively contributes to academic
discourse in these fields.
Mr. Thieffry is a graduate of the
Université de Franche-Comté, the Graduate Institute of
International Studies in Geneva, and the University of Pennsylvania
Law School. He is admitted as a Solicitor of the Supreme Court of
England and Wales, an Avocat of the Geneva Bar, an honorary member
of the Paris Bar, and a member of the New York Bar.
Beyond his legal practice, Mr.
Thieffry has served as a non-executive director on the boards of
several public and private companies, including prior roles with
listed oil and gas companies. His appointment to the Board remains
subject to the completion of customary regulatory onboarding
checks.
The Company is confident that Mr.
Thieffry's breadth of experience and exceptional career will
provide invaluable leadership and strategic insight, greatly
benefiting the Company's ongoing success. Mr. Thieffry's
appointment to the Board, will be with the full support and in lieu
of Mr Ibrahim Diab's previously announced appointment (on 3 June
2024), Mr. Thieffry's appointment is subject to completion of
customary regulatory on-boarding checks following which a further
announcement will be made.
New
Joint Venture with Delta Energy Corp SARL
Further to the Company's
announcement on 3 June 2024, relating to the strategic
collaboration agreement with Delta Energy Corp SARL, a private oil
and gas company founded by Mr Ibrahim Diab (a principal of MBD
Partners SA which is a significant shareholder in the Company) and
Mr Eric Faillenet (former Perenco executive and former MD of
Carlyle International Energy Partners), the Company is pleased to
announce that Delta and Ascent have formed a new joint venture
special purpose company which will focus on new business
development opportunities in world class proven hydrocarbon basins.
Further announcements will be made as necessary.
Enquiries:
|
Ascent Resources plc
Andrew Dennan
|
Via Vigo Communications
|
|
Zeus, Nominated Adviser & Broker
James Joyce / Sarah
Mather
|
0203 829 5000
|
|
Novum Securities, Joint Broker
Jon Belliss
|
0207 399 9400
|