Adriatic Oil Plc
14 July 2014
("Adriatic" or the "Company")
The Board of Adriatic Oil Plc would like to announce the resignation of Mr Jack
Wilson as Non-executive Chairman from the Board of Directors of Adriatic Oil
Plc. He has been Non-executive Chairman since 2009. Mr Wilson has been in ill
health for the past six months and has resigned with immediate effect.
The Board would like to thank Jack Wilson for his great efforts during his time
with the Company and would like to wish him the very best for the future.
Mr Frank Wilson has been appointed as Non-executive Director. Mr Wilson has an
investment background specialising in small and mid-cap European equities and
has a BSc from Newcastle University. He will also represent the Wilson family
interest in the Company.
The Wilson family combined interest in the Company amounts to 44,931,887
Ordinary Shares (representing 44,931,887 voting rights), which represents
13.48% of the voting rights in the issued ordinary share capital of the
Company. The aforementioned 44,931,887 Ordinary Shares include 3,181,887
Ordinary Shares beneficially held by Frank EB Wilson, who is a member of the
Wilson family (as defined in the ISDX Growth Market Rules for Issuers). Jack
Wilson continues to be beneficially interested in 41,750,000 Ordinary Shares
(representing 41,750,000 voting rights).
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILTY FOR THE CONTENTS OF THIS
Adriatic Oil Plc
0044 (0) 20 3178 4060
SVS Securities - ISDX Growth Market Corporate Adviser
0044 (0) 20 7638 5600
NOTES TO EDITORS:
Adriatic Oil Plc is a publicly quoted UK-incorporated international oil and gas
exploration company with a portfolio of activities focused on the North Celtic
Sea and the Adriatic Sea Basin.
In the North Celtic Sea, the Company has agreed with Fastnet Oil & Gas plc to
farm-out 64.5% of its original 80% interest in a Licensing Option which covers
an area of 881 sq.km. Adriatic holds 15.5% of the Licensing Option. The Company
has a second small carried interest in offshore Western Ireland.
Adriatic Oil is also focused on making and progressing applications for
offshore exploration opportunities in Italy and Albania. The Company has been
awarded offshore licence d 173 A.R-.AD in the Italian Northern Adriatic
offshore the Italian town of Rimini.
Adriatic Oil's strategy is to add shareholder value by proving and developing
leads and plays in areas which the Directors of the Company consider to be high
potential oil and gas provinces. Adriatic Oil's ordinary shares are quoted on
the ISDX Growth Market (operated by ICAP Securities & Derivatives Exchange
Limited) under the ticker symbol "ADOP". The Company's website is available
-0- Jul/14/2014 12:14 GMT
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