Genel Energy PLC (GENL)
6 May 2021
Genel Energy plc
Genel Energy plc ('Genel' or 'the Company') announces that Martin Gudgeon and Esa Ikaheimonen have each tendered their resignation as Director of the Company with effect from the close of the Annual General Meeting later today, and accordingly the resolutions relating to their re-appointment have been withdrawn. Esa Ikaheimonen remains in his role as Chief Financial Officer.
Martin Gudgeon was Chairman of the Remuneration Committee and a member of the Audit Committee. Board Committee memberships are under review and updates will be made when appropriate.
David McManus, Chairman of Genel, said:
"Martin brought a wealth of experience of the financial markets to the Board of Genel, and has been an important part of our Board discussions. I thank Martin for his valuable contribution to the Company. I also take this opportunity to thank Esa for his valued and continuing contribution to Genel. As Chief Financial Officer, Esa remains integral to the further strengthening of Genel's already strong financial position, with robust finances supporting a material dividend and re-investment in significant growth opportunities."
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This announcement includes inside information.
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.
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