Urals Energy Public Company Limited Board change (8384Z)

TIDMUEN

RNS Number : 8384Z

Urals Energy Public Company Limited

16 December 2014

 
 Press Release   16 December 2014

Urals Energy PCL

("Urals Energy" or the "Company")

Board change

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that Mrs Inga Srenger has notified the Board of Urals Energy (the "Board") of her decision to resign from the Board with immediate effect.

Mrs Srenger has informed the Board that her decision is due to the need for her to focus on running Petraco Oil Company LLP, of which she is the Chief Executive Officer. The Company and Petraco Oil Company LLP intend to continue their business relationship which has been in place for 15 years.

The Board would like to thank Mrs Srenger for her contribution as a non executive director.

As previously announced, it is anticipated that in the New Year two new non executive directors will be nominated to the Board by Adler Impex SA, the Company's largest shareholder. The appointment of these new non executive directors will be subject to usual checks and approvals. In the New Year, the Company will also start a process to recruit a new Chief Executive Officer, which may take some months to achieve. Once these new Board appointments are made Mr L Dyachenko, the interim CEO and Mr A Ogarev, executive director, will retire from the Board.

- Ends -

For further information, please contact:

 
 Urals Energy Public Company 
  Limited 
 Andrew Shrager, Chairman          Tel: +7 495 795 
                                              0300 
 Leonid Dyachenko, Interim     www.uralsenergy.com 
  Chief Executive Officer 
 
 
 Allenby Capital Limited 
  Nominated Adviser and Broker 
 Nick Naylor                            Tel: +44 (0) 20 
                                              3328 5656 
 Alex Price                      www.allenbycapital.com

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham /                  Tel: +44 (0) 20 
  Quincy Allan                                  7398 7710 
 quincy.allan@abchurch-group.com   www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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