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CEO Terms of Employment Change

12 December 2019

Metgasco Ltd (ASX: MEL) advises of a change to the terms of employment of its Chief Executive Officer (CEO), Mr Ken Aitken.

During the recent annual review process, the Board noted the substantial increase in the Company’s recent activities and it has been agreed that Mr. Aitken’s time commitment to Metgasco be increased to 1.0 Full Time Equivalent (FTE), up from 0.8 FTE. Mr Aitken’s overall remuneration (on an annualised FTE basis) remains unchanged at $300,000 pa plus superannuation.

Mr. Philip Amery, Chairman of Metgasco, on behalf of the Board, noted:

“Mr. Aitken has worked tirelessly for Metgasco since the time of his appointment late last year and has delivered a number of material transactions for the Company. The Board notes that Ken has already been contributing well beyond the notional 0.8 basis of his employment arrangements for some time and appreciates his demonstrated commitment to the Company and its shareholders.”

All other employment terms as previously announced remain unchanged.

ENDS

For more information contact: 

Philip Amery, Chairman

Phone: +61 02 9923 9100

CONTACT US

North Sydney Office
Level 3, 2 Elizabeth Plaza
North Sydney NSW 2060

Tel: +61 2 9923 9100
Fax: +61 2 9959 5387

Metgasco Ltd  ACN 088 196 383