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, June 29, 2018 /CNW/ - SDX Energy Inc. (TSXV, AIM: SDX), the Egypt focused oil and gas company, is pleased to welcome Timothy Linacre, as an Independent Non-Executive Director, to the Board of Directors (the "Board") with immediate effect. Tim will become Chairman of the Audit committee and join the Compensation Committee. David Richards, Non-Executive Director and previous Chairman of the Audit Committee, will retire from the Board also with immediate effect.
Tim is a Fellow of the Institute of Chartered Accountants in England and Wales and an experienced City practitioner. After qualifying with Deloitte Haskins and Sells he spent five years with Hoare Govett before moving to Panmure Gordon in 1992, working at that firm for 20 years including eight years as CEO. Tim is currently Senior Managing Partner at Instinctif Partners, a leading business communications firm.
During his career in the City, Tim has advised a range of businesses in a variety of sectors, including oil and gas, from FTSE 100 companies to fast growing listed and private companies.
Michael Doyle, Non-Executive Chairman of SDX Energy, commented:
"I would like to thank David Richards for his significant contribution to SDX. We are extremely pleased to welcome Tim to the Board as he brings a wealth of experience across finance, capital markets and M&A, the oil and gas sector and the region. Tim joins the Board at an exciting stage in SDX's corporate development, as we carry out important work-streams across our portfolio of exploration, development and production assets in Egypt and Morocco. I am confident that his expertise will prove extremely valuable as we look to further grow the business."
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Timothy James Thornton Linacre (aged 59) does not currently hold any common shares with no-par value in the capital of the Company.
Frenkel Topping Group plc
Previous Directorships / Partnerships (held in the last five years):
Siren E&P Limited
Tim Linacre Associates Limited
There are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX has a working interest in two producing assets (50% North West Gemsa & 50% Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez and a 55% interest in the South Disouq appraisal and development project in the Nile Delta. In Morocco, SDX has a 75% working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SDX Energy Inc.
For further information: SDX, Energy Inc., Paul Welch, President and Chief Executive Officer, Tel: +44 203 219 5640; Mark Reid, Chief Financial Officer, Tel: +44 203 219 5640; Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker), Callum Stewart/Nicholas Rhodes/Ashton Clanfield, Tel: +44 (0) 20 7710 7600; Cantor Fitzgerald Europe (Joint Broker), David Porter/Nick Tulloch, Tel: +44 207 7894 7000; GMP FirstEnergy (Joint Broker), Jonathan Wright/David van Erp, Tel: +44 207 448 0200; Celicourt (PR), Mark Antelme/Jimmy Lea/Ollie Mills, Tel: +44 207 520 9261