Rialto Energy Appoints CFO
- Business & Finance
Rialto Energy announces that Andrew Rose, currently Interim Chief Financial Officer, has been appointed Chief Financial Officer of Rialto Energy.
Andrew’s appointment will be effective 1 December 2013, and is subject to passing of the resolutions concerning adoption of the new Performance Rights Share Plans (Resolutions 6 & 7) and the issue of Performance Rights to Directors of the Company (Resolutions 8 to 12), as set out in the notice of Annual General Meeting and accompanying Explanatory Statement, being passed at the Annual General Meeting of the Company to be held in Perth on 22 November 2013.
Rose has extensive experience in the Oil & Gas industry having been CFO of both private and public E&P companies and prior to that enjoyed a successful career in Investment Banking.
Andrew was previously CFO of AIM listed, MENA focussed, Gulfsands Petroleum. Prior to his role at Gulfsands, which he held for four years, Andrew was CFO of LSE listed Burren Energy from 2001 until 2008. During his time at Burren, Andrew was instrumental in the flotation (in 2003, at an implied valuation of around £175 million), the significant growth (which included the acquisition of assets in West Africa), through to Burren’s eventual acquisition by Eni for £1.73 billion in 2008.
Prior to joining Burren Energy, Rose spent over 20 years as an investment banker in London including being Co-Head of Corporate Finance for Emerging Europe, Middle East & Africa at Société Générale, as well as roles with ING Barings and JP Morgan. Rose graduated from Cambridge University with a Bachelor of Engineering.
Andrew Benedict Rose (aged 56), in the previous 5 years has been a director of Gulfsands Petroleum plc. Rose is beneficially interested in 6,415,977 ordinary shares in the Company. Rose’s compensation package as approved by the Board will be 16,252,947 rights vesting in a manner consistent with the Performance Rights Plan put forth to the AGM on 22 November, 2013.
Press Release, November 19, 2013