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Barryroe Offshore Energy PLC - Dublin, Ireland-based oil & gas exploration company previously known as Providence Resources PLC - Says Chair James Menton is stepping down on Monday after 15 months. Says the search for a replacement is ongoing. Menton says his decision is for "personal reasons" and due to "other ongoing business commitments" that predate his appointment as a director of Barryroe in May 2021.
In the interim period, Barryroe says Senior Independent Non-Executive Director Peter Newman will undertake the role of chair. Newman has been a financial and business strategist for over 30 years, providing counsel to major energy companies.
Chief Executive Officer Alan Curran says: "James Menton has served 15 months as chairman, most of that period with an executive function. During that time, he steered Barryroe Offshore Energy through a particularly difficult period and ensured it remained tightly focused on the development of the Barryroe oil and gas project."
Current stock price: 2.81 pence, down 3.2% on Monday morning in London
12-month change: down 9.5%
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