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Marenica Energy
AUSTRALIA MEY.AX 0,27 AU$ 70,97%
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Executive Commercial Director Remuneration

Publié le 07 novembre 2016

Marenica Energy Limited C/- AMRC Building 7 Conlon Street

Waterford WA 6152 www.marenicaenergy.com.au

3 November 2016

ASX Announcement

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Executive Commercial Director Remuneration

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In accordance with ASX Listing Rule 3.16.4, Marenica Energy Limited (ASX: MEY) ("Marenica") provides the following update of the remuneration information for Mr John Sestan, Chief Commercial Officer who was appointed Executive Commercial Director on 6 October 2016:

  • The Company is in discussions with Mr Sestan to finalise his contract

  • In the interim, commencing on 1 October, 2016 Mr Sestan will receive cash remuneration equivalent to an annual gross figure of $208,000 (inclusive of superannuation obligations and out of pocket expenses).

  • This remuneration was based on a part time commitment.

  • This remuneration is fully inclusive of Director Fees arising from Mr Sestan's role as a Director of Marenica.

The Board plans to complete these discussions with Mr Sestan's regarding his remuneration structure over the next month and will set Mr Sestan's remuneration for the period 1 November 2016 onwards. The Company will announce the agreed remuneration to market as required under ASX Listing Rule 3.16.4 once these discussions are complete.

END

For further information please contact:

Investors: Murray Hill Media: Tim Duncan

MD/CEO - Marenica Energy Limited Hintons

T: +61 8 6555 1816 Mob: 0408 441 122

E: [email protected] E: [email protected]

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