LPP Lapp Plats

 

TIDMLPP 
 
RNS Number : 4890T 
Lapp Plats Plc 
08 June 2009 
 

8 June 2009 
Lapp Plats plc 
 
 
Board Changes 
 
 
Lapp Plats plc, an AIM quoted, UK registered public company, soon to become Cove 
Energy plc ("Lapp Plats", "the Company" ) is pleased to announce the appointment 
of a new Non-Executive Director to the Company and proposed Board Changes in 
line with its recently announced strategy to focus on oil and gas exploration 
and production assets. 
 
 
  *  Appointment of Ivan B. Murphy as Non-Executive Director 
  *  Tom O'Gorman and Michael Nolan to step down from Board 
  *  Michael Nolan to continue as Company Secretary 
 
 
 
Board Changes 
 
 
Further to the Company's stated intention since achieving its AIM quotation in 
May 2005 of formalising an oil and gas division and following on from an 
announcement by the Company on the 27th of May 2009, Lapp Plats is pleased to 
announce today that Ivan B. Murphy has been appointed as Non-Executive Director 
with immediate effect.  Ivan is currently a senior executive with 
Gazprombankinvest, an investment bank owned by Gazprom and Quantic. 
 
 
Gazprom (www.gazprom.com) is the world's largest gas company basically focused 
on geological exploration, production, transmission, storage, processing and 
marketing of gas and other hydrocarbons. Quantic is a group comprising various 
companies created with the intention of forming the core of an oil organization 
active in all levels of activities traditionally associated with companies 
present in this sector - production, trading, refining, distribution and 
financing (www.quanticoil.com). 
 
 
Ivan B. Murphy (36) has a degree in Economics from University College Cork, 
Ireland and has 15 years experience in capital markets. He started his career at 
Aberdeen Asset Management PLC the FTSE 250 listed global investment manager. He 
worked with Aberdeen in London, Miami and Singapore before returning to Ireland 
to become Managing Director of Aberdeen Asset Management Ireland Limited. In 
2003 he left Aberdeen to work as a consultant to a number of Irish and UK plc's 
assisting them in the disposal of asset management and life insurance assets. 
 In 2005 he was one of the founders of Fairfax PLC a London based investment 
bank that listed more than 12 investment companies on AIM and the main market of 
the LSE, raising more than US$1 billion of equity from institutional clients. At 
Fairfax, he focussed on origination and developing the business in the Far 
East.  After leaving Fairfax in 2008 he acted as a consultant to US and Ireland 
based property developer Shelbourne Developments negotiating with potential 
partners in China and the Middle East on the financing and construction of the 
Chicago Spire project. 
 
 
In addition to this Tom O'Gorman and Michael Nolan have decided to step down 
from the Board at the Company's AGM to be held on 2 July 2009. Michael Nolan 
will continue as Company Secretary. The Board expresses its sincere appreciation 
to both Tom and Michael for their work and commitment to the Company since its 
formation in 2003. 
 
 
Commenting on the Board appointment Michael Blaha, Non-Executive Chairman said: 
 
"I am very pleased to welcome Ivan to the Board of the Company; he brings with 
him a wealth of experience and skills from all aspects of capital markets, which 
will become invaluable to balance to the Board as we drive our ambitious 
strategy forward. He will be a great asset to the Company in working with our 
appointed advisors in terms of future transactions and business development. 
 
 
"I would also like to take the opportunity to thank both Michael Nolan and Tom 
O'Gorman for all their service and in recent months their help in re-positioning 
the Company for a very exciting future. Michael Nolan continuing as Company 
Secretary is a key support function for the Board and will ensure it 
communicates in a professional and timely manner with all our shareholders, 
advisors and other interested parties' 
 
 
Ivan B. Murphy, newly appointed Non-Executive said: 
 
 
"I am delighted to have joined the Board and I am very excited with the 
opportunity that this well structured Company offers at this particular point in 
the upstream oil and gas cycle' 
 
 
Information on Ivan B. Murphy 
 
 
+--------------------------------------+---------------------------------------+ 
| Current directorships                | Past directorships (in the last 5     | 
|                                      | years)                                | 
+--------------------------------------+---------------------------------------+ 
| FTSE hx Fund SPC (Cayman Islands)    | Aberdeen International Fund PLC       | 
| Ltd.                                 |                                       | 
+--------------------------------------+---------------------------------------+ 
|                                      | Aberdeen International Management     | 
|                                      | Ireland                               | 
+--------------------------------------+---------------------------------------+ 
|                                      | Aberdeen International India          | 
|                                      | Opportunities                         | 
+--------------------------------------+---------------------------------------+ 
|                                      | (Mauritius)                           | 
+--------------------------------------+---------------------------------------+ 
|                                      | IFG Financial Services Ltd.           | 
+--------------------------------------+---------------------------------------+ 
|                                      | Deutsche Asset Management Ireland     | 
|                                      | Ltd.                                  | 
+--------------------------------------+---------------------------------------+ 
 
 
Mr. Murphy has a beneficial interest in 300,000 ordinary shares representing 
1.3% of the share capital of the Company. 
 
 
There are no other details specified by schedule 2 paragraph (g) of the AIM and 
IEX Rules to be disclosed in relation to Mr. Murphy. 
 
 
For further information, please contact: 
 
 
Lapp Plats plc 
John Craven, CEO,Tel: + 353 1 662 4351 
 
 
Cenkos Securities 
Jon Fitzpatrick / Ken Fleming, Tel: +44 (0)131 220 6939 
 
 
Financial Dynamics 
Billy Clegg / Edward Westropp, Tel: +44 (0)20 7831 3113 
 
 
Note to Editors: 
Lapp Plats plc is an AIM quoted natural resources company. It was founded in 
2003 to secure and advance platinum group metal projects in Sweden and over the 
past 24 months it has been active in expanding its area of activity into the oil 
and gas sector. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOAFGGGVVKMGLZM 
 

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