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    Magnolia Petroleum appoints CFO

    Magnolia Petroleum

    Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and production company, has appointed Oliver Rigby as the company’s CFO.

    Oliver is a chartered accountant with extensive experience as a corporate financier, advising small and mid cap companies on initial public offerings, mergers and acquisitions and secondary fundraisings. Most recently, Oliver specialized in Corporate Finance at Deloitte where he focused on providing regulatory and strategic advice to public companies in respect of transactions and their ongoing regulatory obligations.  Previously Oliver was a director of corporate finance at Daniel Stewart & Company plc from 2006 to 2012 where he worked with a number of AIM companies, including Magnolia.

    The company has agreed to grant Oliver 1,754,386 share options, exercisable at 2.85p per share, being the closing mid-market price on 23 January 2013, under a Company share option scheme.  The options vest after 12 months and are thereafter exercisable for a period of four years subject to the terms of the scheme.

    The appointment will take effect no later than April 30, 2013.

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