Sirius Petroleum has appointed Christopher (Chris) Neal as a Non-Executive Director, with immediate effect. Chris has over 25 years experience in the City of London, initially in the gilt team at ICH Plc, before founding the bond repurchase desk at ICAP.
Sirius also announces the resignation of Ajay Kejriwal as a Director of the Company with immediate effect. The Board would like to thank Ajay for his contribution to the Company and wishes him well in his future endeavours. In addition to his disclosable director’s remuneration and the issue to Mr Kejriwal in April 2014 of 7.5m warrants to subscribe for new ordinary shares at an exercise price of 5 pence per share (Warrants), and in consideration for his contribution and pursuant to a letter of agreement entered into on 30 October 2015, Ajay will receive 25 million new ordinary shares (New Ordinary Shares) issued at a price of 0.4 pence per share. Furthermore, the Warrants previously granted to him will be cancelled. The New Ordinary Shares will be subject to orderly market restrictions effective from admission until 31 December 2015.