Gasol plc Directorate Change (6648D)

TIDMGAS

RNS Number : 6648D

Gasol plc

01 May 2013

Gasol plc ("Gasol" or the "Company")

Directorate Appointment

Gasol plc, the West African energy development company, is pleased to announce today the appointment of Fassiné Fofana as Non-Executive Director.

Fassiné Fofana, 62, has considerable experience in the mining and oil and gas industries. From 1994 to 2000, Fassiné was Minister of Mining & Energy for the Government of the Republic of Guinea, where he was responsible for setting Government policy and strategy for the mining industry, prior to which he was the Secretary General for the Central Bank of Guinea. Fassiné has also worked as the Alternate Governor for the African Development Bank and has been Director of several companies seeking to develop projects, mainly aluminium, in Africa. Fassiné is currently Chief Executive Officer of Africa Geothermal Limited, a company developing power from geothermal energy in the Rift Valley in East Africa and Executive Chairman of Kakande Alumina Company Limited, engaged in bauxite and aluminium projects in Guinea, West Africa.

Commenting on the appointment, Cornelia Meyer, Chairman, said:

"We are very pleased that Fassiné will be joining Gasol and I look forward to working with him. He will be a great asset to the Company and we look forward to reaping the benefits of his extensive experience."

Fassiné Fofana's directorships and partnerships during the last five years are as follows:

 
  Current                                    Past 
 Africa Geothermal International(Kenya)Ltd   Africa Geothermal International(Guernsey)Ltd 
 Africa Geothermal International(BVI)Ltd     Africa Aluminium Ltd 
                                              (Scotland) 
 Kakande Alumina Company                     Carbon Reduction International 
  Ltd (BVI)                                   (Mauritius) 
 Fofana & Associates                         Energy Equity Resources 
  Ltd (UK)                                    Ltd (UK) 
 Kingston Management                         Energy Equity Resources 
  Enterprises Ltd (BVI)                       (Norway) Ltd 
                                             Energy Equity Resources 
                                              (Equatorial Guinea) 
                                              Ltd 
                                             Energy Equity Resources 
                                              (Mwana) Ltd

In March 2010, Africa Aluminium Ltd, of which Fassiné Fofana was a director, completed a voluntary liquidation following the decision by the main shareholder and creditor to no longer pursue the existing bauxite project in Sierra Leone.

Save for the information disclosed above there is no other information to be disclosed under Rule 17 or Schedule Two, paragraph (g) of the AIM Rules for Companies.

- Ends -

For further information, please contact:

 
 Gasol plc 
  Alan Buxton, Chief Operating    +44 (0) 20 7290 
  Officer                          3300 
 Panmure Gordon (UK) Limited 
  Dominic Morley (Corporate 
  Finance) 
  Callum Stewart (Corporate       +44 (0) 20 7886 
  Finance)                         2500 
  Adam Pollock (Corporate 
  Broking) 
 
  Yellow Jersey PR Limited 
  Dominic Barretto                 +44 (0) 20 3664 
  Anna Legge                       4087

Notes to Editors:

About Gasol plc

Gasol plc's strategy is to provide African gas for the next generation. Power stations in West Africa currently operate predominantly on liquid fuels such as diesel, light crude and jet fuel, but many of these plants are also capable of using gas. Gasol will initially supply these customers with gas from regasified Liquefied Natural Gas ("LNG"), which can provide significant cost savings in the order of 20 to 30 per cent. This involves the delivery of LNG to leased Floating Storage and Regasification Facilities which will be positioned in Cotonou harbour, Benin and will supply the regasified LNG into the West African Gas Pipeline. The West African Gas Pipeline is a 678km gas pipeline involving an investment of over US$1 billion, built to transport gas from Nigeria to Benin, Togo and Ghana which has been operational since March 2011, but today operates at significantly less than full capacity . Once there is sufficient regional demand for gas, Gasol aims to develop captive gas reserves in offshore Nigeria and will supply this gas through the West African Gas Pipeline. This pipeline gas will be cheaper and therefore displace the LNG derived gas, resulting in further savings for customers.

Gasol's shares have been listed on London Stock Exchange's AIM since 2005 with the ticker code "GAS". Further information on the Company is available at www.gasolplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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