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CHALLENGER ENERGY GROUP PLC
Board/Management Information • Jun 1, 2021
7557_rns_2021-06-01_35b2c4b0-112f-4c3a-9ad7-b63c06856fa5.html
Board/Management Information
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National Storage Mechanism | Additional information 
RNS Number : 3880A
Challenger Energy Group PLC
01 June 2021
1 June 2021
Challenger Energy Group PLC
("Challenger Energy" or the "Company")
Board Changes
Challenger Energy (AIM:CEG), the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and exploration assets across the region, announces, further to the announcement of 23 April 2021, the appointment of Eytan Uliel and Stephen Bizzell to the Company's board of directors (the "Board"), with immediate effect.
Board Changes
Mr Eytan Uliel, the Company's Chief Executive Officer designate, has now formally been appointed as Chief Executive Officer of the Company. Following Eytan's appointment, Simon Potter, the Company's previous Chief Executive Officer since 2011, has stepped down from this role but will remain with the Company as a Non-Executive Director, with a remit to provide ongoing transitional support to the Company's executive team.
Mr Stephen Bizzell has been appointed to the Board as a Non-Executive Director. Subsequent to the appointment of Stephen Bizzell, Mr Ross McDonald, Non-Executive Director of the Board, has stepped down from his role.
The Board now comprises William Schrader (Non-Executive Chairman), James Smith (Deputy Non-Executive Chairman), Simon Potter (Non-Executive Director), Stephen Bizzell (Non-Executive Director) and Eytan Uliel (CEO).
As previously advised, the appointment of Mr. Robert Riley to the Board as non-executive director will take effect at such time as customary onboarding processes for new directors are completed, and a further announcement will be made at that time. As previously advised, the Company will also consider the potential for the appointment of additional Non-Executive Directors in the future, as may be deemed appropriate.
Eytan Uliel, Chief Executive Officer, commented:
"I am delighted to have formally assumed the role of CEO of Challenger Energy. We are making steady progress on our plan to reset the Company both strategically and corporately, with a view to positioning the business for future growth. I and the executive team will be working closely with our re-organised Board in implementing a strategy focussed on creating shareholder value through production and cashflow growth across our portfolio. I look forward to engaging over the coming months with our shareholders and stakeholders, and providing regular updates on our progress."
Additional Information
The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.
Mr Eytan Michael Uliel (aged 49)
| Current Directorships | Past Directorships (last five years) |
| BPC Managements Services Ltd | UIA Investment Holdings (No.1) Pte Ltd |
| BPC Goudron Trinidad Ltd | UIA Healthcare Holdings Pte Ltd |
| BPC Icacos Trinidad Ltd | Apos Asia Holdings Pte Ltd |
| BPC South Erin Trinidad Ltd | Apos Singapore Pte Ltd |
| Cory Moruga Holdings Ltd | Eight Ball Investments Pty Ltd |
| Steeldrum Petroleum Group Ltd | |
| BPC Inniss-Trinity Trinidad Ltd | |
| T-Rex Resources Trinidad Ltd | |
| BPC Bonasse Trinidad Ltd | |
| Uliel Investments Pte Ltd | |
| Hameitar Pty Ltd | |
| Kinneret Pty Ltd | |
| Knock n Lock Ltd | |
| Man Mission Nominees Pty Ltd | |
| Mitchells Holdings (Asia) Pte Ltd | |
| Mitchells Worldwide Marketing Pte Ltd | |
| Alceon Funds Management Pty Ltd | |
| Alceon Australian Real Estate Corporate Senior Loan Master Fund | |
| Alceon Real Estate Corporate Senior Loan Master Fund | |
| Armour Energy Limited | |
| Armour Energy (Victoria) Pty Ltd | |
| Armour Energy (Surat Basin) Pty Ltd | |
| Armour Energy International Pty Ltd | |
| Armour Energy (Qld) Pty Ltd | |
| Ripple Resources Pty Ltd |
Mr Uliel is interested in 10,373,962 ordinary shares in capital of the Company and has options over 4,250,000 ordinary shares in the capital of the Company at strike prices ranging from 22.2 pence per share to 28 pence per share.
Mr Stephen Grant Bizzell (aged 53)
| Current Directorships | Past Directorships (last five years) |
| Armour Energy Limited | Aegpas Pty Ltd |
| A.C.N. 601 276 886 Pty Ltd | Belview Coal Pty Ltd |
| Agate Creek Holdings Pty Ltd | Cape Range Energy Pty Ltd |
| Armour Energy (Victoria) Pty Ltd | Coera Pty Ltd |
| Armour Energy (Surat Basin) Pty Limited | Comet Coal & Coke Pty Limited |
| Armour Energy (Qld) Pty Ltd | Diversa Pty Ltd |
| Armour Energy International Pty Ltd | Emerald Coal Pty Ltd |
| BBW Funds Pty Ltd | Kerlong Coking Coal Pty Ltd |
| BCP Alpha Investments Pty Ltd | Mackenzie Coal Pty Limited |
| BCP Alpha Management Pty Ltd | New Cambria Pty Ltd |
| BCP Equities Pty Ltd | PB Energy No 1 Pty Ltd |
| Bizzell Asset Management Pty Ltd | Ripple Resources Pty Ltd |
| Bizzell Capital Partners Pty Ltd | Stanmore Coal Custodian Pty Ltd |
| Bizzell Nominees Pty Ltd | Stanmore Resources Limited |
| Centec Securities Pty Ltd | Strike North West Pty Ltd |
| E-1 Nominees Pty Ltd | Sub161 Pty Ltd. |
| Enthalpy Pty Ltd | UIL Canning Basin Pty Ltd |
| International Justice Fund Pty Ltd | UIL Energy Pty Ltd |
| Laneway Resources Limited | |
| Maas Group Holdings Limited | |
| Pine Mountain Pty Ltd | |
| Renascor Resources Limited | |
| Renison Coal Pty Ltd | |
| Strike Energy Limited | |
| Wavebreak Ventures Pty Ltd |
Mr Bizzell had an interest in £151,000 worth of convertible notes issued by the Company which, on 27th May 2021 converted into 4,314,286 ordinary shares (post share consolidation) in the capital of the Company. In addition, Mr. Bizzell holds an interest in £200,000 worth of convertible notes issued by the Company, which remain on issue in accordance with the terms and conditions of those notes, as previously disclosed (and, if converted in full, would represent an interest in a further 2,500,000 ordinary shares. Mr Bizzell also has an interest in options over 300,000 ordinary shares in the capital of the Company at a strike price of 20 pence per share.
Mr Bizzell was previously a Non-Executive Director of Titan Energy Services Limited, which entered voluntary administration in December 2015. The administration came to an end in June 2016 and the company has subsequently been renamed Aumake Limited.
Other than the information contained within this announcement, there is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, which forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.
For further information, please contact:
| Challenger Energy Group PLC Eytan Uliel, Chief Executive Officer |
Tel: +44 (0) 1624 647 882 |
| Strand Hanson Limited - Nomad Rory Murphy / James Spinney / Rob Patrick |
Tel: +44 (0) 20 7409 3494 |
| Shore Capital Stockbrokers Limited - Joint Broker Jerry Keen / Toby Gibbs |
Tel: +44 (0) 207 408 4090 |
| Investec Bank Plc - Joint Broker Chris Sim / Rahul Sharma |
Tel: +44 (0) 207 597 5970 |
| Gneiss Energy - Financial Adviser Jon Fitzpatrick / Paul Weidman / Doug Rycroft |
Tel: +44 (0) 20 3983 9263 |
| CAMARCO Billy Clegg / James Crothers / Hugo Liddy |
Tel: +44 (0) 020 3757 4980 |
Notes to Editors
Challenger Energy is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay. In Trinidad and Tobago, Challenger Energy has five (5) producing fields, two (2) appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, Challenger Energy has on onshore appraisal / development project. Challenger Energy's exploration licence in each of Uruguay and The Bahamas are highly prospective, and offer high-impact value exposure within the overall portfolio value.
Challenger Energy is quoted on the AIM market of the London Stock Exchange.
ENDS
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