Aminex (LON:AEX) has strengthened its board by making senior managers directors of the company.
The East African gas group, which is focused on the Ruvuma basin in Tanzania (onshore), has added chief executive Jay Bhattacherjee and chief operating officer Philip Thompson to the board.
Their appointments followed the acquisition of privately-owned Canyon Oil & Gas, which they both founded, funded through the issue of 80mln Aminex shares.
Chief financial officer Max Williams, who has been with the company for a number of years, joins the board as finance director.
Brian Hall meanwhile has stepped down as acting chairman and will remain as chairman for “as long as required”, while exploration director Mike Rego is leaving the board and the company to pursue other opportunities.
The new and existing board members will now own around an eighth of the company’s shares.
“Jay Bhattacherjee and Philip Thompson have been working with the company as consultants for several months and we are pleased to cement the relationship through their appointments to the Board,” said Hall.
“They have each acquired substantial holdings in the company through vending their own company into Aminex for shares and following this up with material cash contributions in the recent successful placing.”