Spinnaker Opportunities PLC Additional Retained Advisers (1521G)
May 25 2017 - 1:00AM
UK Regulatory
TIDMSOP
RNS Number : 1521G
Spinnaker Opportunities PLC
25 May 2017
Spinnaker Opportunities Plc
Additional Retained Advisers
25 May 2017
Spinnaker Opportunities Plc (the "Company" or "Spinnaker"), the
newly listed cash shell focused on delivering a single, material
acquisition in the energy or industrial sectors, is pleased to
confirm the appointments of Mr Alan Hume and Mr Andy Duncan as
additional Retained Advisers to the Company.
The role of the Retained Adviser is to advise the Board on a
discretionary, part-time consultancy basis as the Board assesses
potential Acquisitions. In common with the Directors, Retained
Advisers will not receive any fees for their ordinary duties prior
to the completion of an Acquisition transaction.
Commenting on the new appointments, Andy Morrison, Chairman of
Spinnaker said, "The whole Board is delighted to welcome Alan and
Andy to the Spinnaker team. Their in-depth financial knowledge and
practical skills and experience will greatly enhance our ability to
process our promising inventory of opportunities and to complete a
value-adding Acquisition as quickly and as effectively as
possible."
Mr Hume participated in the recent IPO, making a personal equity
investment and on appointment, both Mr Hume and Mr Duncan become
eligible for the Company's share option scheme. Awards under the
Company's share option scheme are primarily intended for
retrospective recognition for the "sweat" contributions of
Directors and Retained Advisers. No option award is being made at
this time.
On presentation of a potential acquisition target, Retained
Advisers may be requested to provide the benefit of their
experience on issues such as target quality, potential capital
expenditure requirements, commodity market dynamics and business
development in order to assist the Directors in formulating an
investment decision. While the Retained Advisers may be asked for
their recommendations, all decisions will be made solely by the
Directors.
ENQUIRIES
Spinnaker Opportunities Plc
Andy Morrison
07980 878561
SP Angel (Financial Adviser and Broker)
Lindsay Mair
Caroline Rowe
020 3470 0470
PROFILES
Mr Alan Hume
Alan is a dynamic and highly developed CFO with significant
experience in the oil and gas exploration and production sector as
well as the broader energy market. Alan has also held senior
finance, commercial and operational roles in the oilfield services,
engineering, construction and energy production sectors.
Alan's career has seen him hold many domestic, as well as
international financial responsibilities. He has experience in
bringing companies to market as well as leading acquisition and
disposal activities. His expertise encompasses blue chip American
organisations, AIM listed companies, TSX-V listed companies and
start-up ventures.
Alan is a Fellow of the Chartered Institute of Management
Accountants.
Mr Andy Duncan
An experienced financier to the independent sector, Andy has
over 11 years of oil and gas experience having worked for Standard
Chartered Bank, Bank of America Merrill Lynch and the Royal Bank of
Scotland providing structured financings and acquisition finance
for assets globally. Andy is currently an independent consultant
providing advice and assistance on corporate finance to boards and
executive management teams in the oil and gas sector.
Prior to banking Andy spent 10 years in industry as a chartered
mechanical engineer, where he designed topsides facilities for UK
North Sea platforms as well as designing fluidised catalytic
cracking units for multiple refineries across Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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