Columbus Energy today confirmed its finance director has stepped down with immediate effect.
James Thadchanamoorthy left the firm to “pursue new opportunities”. The firm has appointed Gordon B. Stein, as chief financial officer effective immediately.
Chief executive Lee Koot said: “On behalf of the Board, I would like to thank James for his significant contribution to the business over the last five years and wish him well in his future career.
“I am delighted to welcome Gordon to his new position as Chief Financial Officer. Gordon’s extensive financial and oil and gas experience will be of significant value to the Company as we enter our next stage of growth.”
Mr Stein has agreed to receive half his fees for the first 12 months in the form of Company stock to be issued at the end of his first year at a price of 2.2p per share, being the price at the time of the last placement in March 2017.
Mr Stein will be granted options over and above the company shares as follows, including 2 million shares strike at 2.22p vesting at 4p, 2 million shares strike at 4p vesting at 8p, 2 million shares strike at 6p vesting at 12p, 2 million shares strike at 8p vesting at 16p and 2 million shares strike at 10p vesting at 20p.
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