– UK, London – Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the Thar desert in the south-eastern Sindh Province of Pakistan, today announces the appointment of Mr Mark Steed to its Board of Directors, as a Non-executive Director, with immediate effect.

Mr Steed’s appointment is intended to strengthen the Company’s Board for its next stage of development and project delivery of Block VI, Thar Coalfield, Sindh, Pakistan, as well as to increase the Company’s access to a wider international investor base, and to identify new diversification opportunities for Oracle to deliver early cash flows.

Mr Steed has had a career in the field of international stock and commodity markets, the management of offshore hedge funds, corporate finance and trading in securities in emerging economies. He has worked with and set up various portfolio and fund management companies, in the roles of Chief Executive Officer, Chief Financial Officer and Compliance Officer. Notably he has been involved in the set up of Amstel Securities LLP, City Capital Securities Limited, Shard Capital Partners LLP and the Sion Hall Family Office.

Anthony Scutt, Chairman of Oracle, said: “It is with pleasure that I welcome Mark to our Board. His distinguished expertise in the field of corporate finance and the administration and management of offshore hedge funds will be of considerable value to the broader development of the Company.”

For more information : http://www.oraclepower.co.uk

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