Swala Energy Limited (Swala) is pleased to announce the appointment of Mr Frank Moxon to the Companyís Board of Directors as an independent Non-Executive Director effective from the 23 June 2015. This appointment strengthens the Companyís Board and brings a financial skill set to the Company that is required as Swala adapts and continues in its plans to grow in the changing environment we find ourselves in today in the oil and gas industries.
Mr Moxon is the Managing Director of Hoyt Moxon Ltd, a corporate finance consultancy. He is also Chairman of Imperial Minerals Plc and a director of the Chartered Institute for Securities & Investment (CISI). He has over 25 yearsí experience as a corporate financier to developing and growth companies in a wide range of industrial sectors, but has specialised for some 17 years in natural resources. He is or has been a director of a number of companies quoted on the stock exchanges of London, Australia and Canada.
Mr Moxon is a former head of corporate finance at Williams de BroŽ Plc., a large and well respected Broker in London and was senior independent non-executive director at Cove Energy Plc until its August 2012 sale to PTTEP for £1.2 billion. He has a BSc in Economics and is a Chartered Fellow of the CISI and a Fellow of the Energy Institute and of the Institute of Materials, Minerals & Mining.
To take advantage of Mr Moxonís skills the Swala Board has also appointed him to the Companyís Audit and Risk Management Committee, the Remuneration Committee and Health, Safety and Environment Committee.
Mr Moxon will receive a fixed remuneration fee of $60,000 per year, an amount that is within the Companyís aggregate non-executive director fee limit.
The Chairman of Swala Energy Limited, Mr Ken Russell, said: "We are very pleased that Frank has accepted our offer to join the Board of Swala Energy. Swala is a company that is always looking at ways to grow, something that is especially required in the environment that we find ourselves in today, so to have someone who can bring significant experience in the international capital markets, backed by board positions in such significant success stories as Cove Energy is something that Swala can be proud of. Frankís appointment is one that will reinforce our Board's financial market experience in Australia, in London and elsewhere. We welcome Frank to the Company and the Board."