Plexus Holdings PLC, the AIM quoted oil and gas engineering services business, announced December 17 that Christopher Fraser stepped down as a director of the company. The company also announced the appointment of Kunming Liu as a non-executive director.
Plexus’ CEO Ben Van Bilderbeek said, “I would like to take this opportunity to thank Christopher for his invaluable contribution to the Company whilst in office. His dedication and diligence to his role has been of great assistance to the Board and we wish him well for the future.”
In July 2015, Plexus entered a share subscription agreement with Jereh International, a wholly owned subsidiary of Jereh, the Chinese oil services provider, to facilitate the rental, sale and manufacture of Plexus’ wellhead equipment into the major Chinese, wider Asian, Brazilian, Indian and Middle East oil and gas markets.
According to this agreement, Jereh had the right to appoint a non-executive director to the board of Plexus and on December 18, Plexus confirmed the appointment of Kunming Liu as a non-executive director with immediate effect.
Liu has over 18 years’ experience in corporate finance and financial accounting and is currently the Vice President and Chief Administrator of HITIC Energy, an oil and gas development company based in Canada, which is a subsidiary of Jereh.
Prior to this, Liu was the Financial Director of Jereh Energy Services Corporation, a wholly owned subsidiary of Jereh.
Van Bilderbeek commented the appointment: “We are delighted to welcome Kunming to the Board. 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.”