Brooge Energy Appoints Two New Members to the Board of Directors

NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Brooge Energy Ltd, (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, today announced the appointment of Alexander Lawson and Guy Wall to the Board of Directors, effective December 14, 2023. Dr. Yousef Al Assaf has resigned as Chairman and Director of the Board of Directors effective December 11, 2023.

Alexander Lawson and Guy Wall are the joint official liquidators of BPGIC Holdings Limited ("BPGICHL"), the owner of approximately 85.6% of the Company’s share capital. BPGICHL was placed into official liquidation on November 20, 2023 pursuant to an order by the Grand Court of the Cayman Islands. Messrs. Lawson and Wall have been appointed to the Board of Directors as result of a request by BPGICHL to the Company and in accordance with the Company’s Memorandum and Articles of Association.

Alex Lawson is a Managing Director and the Head of Alvarez & Marsal Cayman Islands Limited (“A&M”) and is a qualified Cayman Islands Insolvency Practitioner. Mr. Lawson also worked at KPMG in the Cayman Islands for ten years and was a Partner in the Restructuring Practice. Mr. Lawson earned bachelor’s degrees in both commerce and law from the University of Queensland and is an Insolvency Practitioner in the Cayman Islands and Chartered Accountant (Australia & New Zealand).

Guy Wall is the Managing Director with Alvarez & Marsal Middle East Limited’s Restructuring practice in Dubai. Mr. Wall earned a bachelor’s degree in accounting and finance from Charles Sturt University in Australia. He is a member of CPA Australia and is a Registered Liquidator in the Dubai International Financial Centre and the Abu Dhabi Global Market.

"We welcome Alex and Guy to Brooge’s Board and look forward to leveraging their extensive finance and legal experience. On behalf of the entire team, we also want to thank Dr. Al Assaf for his guidance during his tenure as Chairman of the Board," said Paul Ditchburn the Chief Financial Officer and Chair to the Office of the Chief Executive Officer of Brooge Energy.

“Guy and I welcome the opportunity to join the Board and wish to confirm that our appointment as joint official liquidators to BPGIC Holdings Limited does not directly impact the operations of Brooge, which will continue to provide market leading services to its customers. We look forward to helping drive continued growth and value for Brooge and its stakeholders,” said Alexander Lawson.