11 October 2019
IGas Energy plc (AIM: IGAS)
("IGas" or "the Company")
IGas announces that Mike McTighe is to step down from his role as Non-Executive Chairman and leave the Board with immediate effect, for personal reasons. Cuth McDowell, Senior Independent Non-executive Director, will assume the role of interim Non-executive Chairman.
Commenting Stephen Bowler, IGas Chief Executive, said:
"On behalf of the Board I would like to thank Mike for his considerable contribution to the Company and valued leadership over the last three years. Initially, Mike helped steer IGas through a challenging refinancing and more recently through the successful reserve based lending facility. He leaves the Company well financed, and in a much stronger position."
Mike McTighe said:
"I am saddened to have to step down at this time, but I leave the company in much better shape than when I first arrived and ready to seize the future opportunities open to it in the UK energy market as we transition to Net Zero in 2050, still requiring a significant contribution from gas in the mix. I wish Steve and the board all the best over the coming years."
For further information please contact:
IGas Energy plc Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Julian Tedder, Chief Financial Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970
Sara Hale/Jeremy Ellis/Neil Coleman
Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/James Asensio
Vigo Communications Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Chris McMahon