(“Niche” or the “Company”)
Appointment of New Executive Chairman
The board of Niche, the investment company with interests in oil and gas exploration and development activities onshore Turkey, is pleased to announce the appointment of Stuart Thomas as Executive Chairman with immediate effect.
Stuart takes over from Nigel Little who has regrettably stepped down from the Board due to ill-health.
Stuart Thomas, a 4.32% shareholder of Niche, joined the board earlier this month, initially as a non executive director. Stuart is an expert in the oil and gas industry having, earlier in his career, been an oil and gas research analyst. He holds a BSc in Petroleum Geology from Imperial College, London. He is the founder of Spring Capital Limited, an investment company specialising in the energy sector, where he has been instrumental in building that business into a profitable enterprise. The board is delighted that Stuart has agreed to lead the Company as its Executive Chairman. He has, since joining the board, been in discussions with Oman Resources Limited (“Oman Resources”) with a view to maximising the value represented to Niche shareholders from its investments in Oman Resources. The board looks forward to updating shareholders regarding this at the appropriate time.
The board would like to place on record its thanks to Nigel Little for his significant contribution to the development of Niche to date and wish him a speedy recovery.
Stuart Thomas, Executive Chairman, commented:
“I believe Niche has a significant, and unique, opportunity for value creation in the Turkish natural resources market, where its current investments are focused. I look forward to working closely with the board towards unlocking that value for shareholders.”
The Niche Group plc
Tel. +44 (0)20 8371 3071
Daniel Stewart mp; Co. Plc – Nominated Advisor and Joint Broker
Tel. +44 (0)20 7776 6550
Canaccord Genuity – Joint Broker
Charles Berkeley / Henry Fitzgerald-O’Connor
Tel: +44 (0) 20 7050 6500
Tel. +44 (0)207920 2340