REG - Star Energy Group - Directorate Change and Withdrawal of Resolution

Star EnergyAnnouncement

05/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240605:nRSE1252Ra&default-theme=true

RNS Number : 1252R  Star Energy Group PLC  05 June 2024

5 June 2024

 

Star Energy Group plc (AIM: Star) ("Star Energy" or "the Company")

 

Directorate Change and Withdrawal of Resolution

 

The Board of Star Energy announces that it has today appointed Ross Glover to
the role of Chief Executive Officer (CEO), with the intention of appointing
him to the Board of Directors with effect from the conclusion of the Company's
Annual General Meeting (AGM) on 12 June 2024. Chris Hopkinson will step down
from the Board and his CEO position with immediate effect.

 

The Board of Star Energy recognises the significant contribution that Chris
has made during his tenure at the Company since 2022, including charting a
course through a period of internal group reorganisation, raising the
sustainable level of production in its conventional oil and gas activities and
taking a number of important steps to position the Company for the Energy
Transition.

 

Chris Hopkinson will not be standing for re-election at the Company's AGM to
be held on Wednesday 12 June 2024. As the Company's Notice of AGM has already
been issued, the Company confirms that the resolution to re-elect Chris
Hopkinson as a Director of the Company (Resolution 3) is now withdrawn.

The withdrawal of Resolution 3 does not otherwise affect the validity of the
Notice of AGM, the proxy form or any proxy votes already submitted on other
proposed resolutions. The numbering of all other proposed resolutions at the
AGM will remain unchanged.

After the successful €25 million refinancing of the Group announced in April
2024 the Company is entering a new phase. Over the past 18 months, oil and gas
production has been stabilised and the focus will now pivot towards improving
the efficiency and increasing the profitability of the oil and gas business.
The Company optimises the use of all its assets within its existing businesses
and will actively re-purpose them as appropriate to maximise returns as part
of the energy transition. We are well positioned to capitalise on our
geothermal growth opportunities in both the UK and Croatia.

 

Commenting Non-executive Chairman, Philip Jackson said:

 

"During his time at Star Energy, Chris has made a significant contribution to
the development of the Company and I wish him all the best for the future.

 

I am delighted to welcome Ross both as a new board member and to his new role
as CEO. We are looking forward to working closely with him and the wider team
to deliver the next chapter of Star Energy's development. Ross has been with
the Company since 2017 and has been its Chief Operating Officer since
September 2022. He has great drive and commitment to continue growing the
Company's profitability and future successful transition."

 

Chris Hopkinson added:

 

"I have enjoyed my time at Star Energy and am proud of the changes over which
I have been able to preside. We have raised production substantially since I
took over in September 2022. The time has however come for me to pass on the
reins to Ross in whom I have great confidence to carry on what I have
started."

 

Regulatory disclosures

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies:

Ross David Hamilton Glover, aged 49, holds 168,922 ordinary shares in Star
Energy Group plc. He has been a director or partner of the following companies
or partnerships during the five years preceding the date of this announcement:

 

Current Directorships

A14 Energy Limited

GT Energy Croatia Limited

GT Energy UK Limited

 

Past Directorships (in the last five years)

None

 

Star Energy confirms that there are no other disclosures to be made pursuant
to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies
with respect to Ross Glover.

 

 

For further information please contact:

Star Energy Group plc
                             Tel: +44 (0)20 7993 9899

Philip Jackson Non-executive
Chairman

Ross Glover, Chief Executive Officer
 
 

Ann-marie Wilkinson, Chief of Staff

 

Investec Bank plc (NOMAD and Joint Corporate Broker)     Tel: +44 (0)20
7597 5970

Virginia Bull/Charles Craven

 

Canaccord Genuity (Joint Corporate Broker)
   Tel: +44 (0)20 7523 8000

Henry Fitzgerald O'Connor/Adam James/James Asensio

 

Vigo Consulting
                                    Tel: +44 (0)20 7390
0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAFLFEARFISIIS