Chrysaor Ltd and Premier Oil plc’s proposed reverse takeover will result in a new name for the company of Harbour Energy plc.
Harbour Energy will be the largest London-listed independent oil and gas company by production and reserves.
The company’s board will comprise 11 directors including six independent non-executive directors, two non-executive directors appointed by funds managed by EIG Global Energy Partners (EIG) and three executive directors.
EIG chief executive Blair Thomas will be chairman of the combined group. Mr Blair has more than 30 years’ experience in the investment management business, focusing on energy and energy-related infrastructure.
Chief executive will be Linda Cook and Phil Kirk will be president and CEO Europe. The new chief financial officer had yet to be named.
Harbour Energy’s board will also include Simon Henry (senior independent non-executive director), Anne L Stevens (independent non-executive director), Anne Marie Cannon (independent non-executive director), G. Steven Farris (non-executive director).
Three additional independent non-executive directors have yet to be announced. Each of the current non-executive directors of the board of Premier Oil, other than Anne Marie Cannon, will step down after completion of the transaction.
Premier Oil’s shareholders will discuss approval of the planned merger with Chrysaor on 12 January 2021.