Plexus Appoints Non-Executive Director

Plexus Holdings has appointed Kunming Liu to the Board as a Non-Executive Director with immediate effect. 

This appointment forms part of the recently signed licence agreement with Yantai Jereh Oilfield Services Group (‘Jereh’) and a share subscription agreement with Jereh International (Hong Kong).

Kunming Liu has over 18 years’ experience in corporate finance and financial accounting and is currently the Vice President and Chief Administrator of HITIC Energy, a subsidiary of Jereh based in Canada. Prior to this, Liu was the Financial Director of Jereh Energy Services Corporation, a wholly owned subsidiary of Jereh.

Before joining Jereh in 2007 she was a costing manager at the medical production and marketing company Yantai Kendall. Additionally Liu holds a major in financial accounting from Shandong Cadres Institute of Economics and Management in China.

Plexus’ CEO Ben Van Bilderbeek said, “We are delighted to welcome Kunming to the Board.  Her extensive experience and proven track record in China will be invaluable to us as we enter the next stage of global growth with our licencing partner Jereh. The process of knowledge transfer has begun and we are actively exploring with Jereh opportunities in the territories that they have a licence for, whilst Jereh become familiar with our wellhead technology. The widely reported move away from coal to gas as a result of climate change related commitments, particularly in China will, I believe, over the next five to ten years result in an increasing number of exploration and production gas wells and we expect Jereh and Plexus to play an important role in delivering the best and safest wellhead solutions, particularly for HPHT applications.

“Despite the current challenges facing the global oil and gas industry, and the resultant impact on operator activity, your board views the next few years as a potentially transformational time for Plexus and our best in class POS-GRIP wellhead equipment, known for its unique technical, safety and time saving capabilities. As part of such initiatives, we will continue to target our expansion into the main stream oil and gas wellhead volume market across exploration, production and subsea.”