New MD for MEC Resources as it seeks to expand energy portfolio

By Meagan Evans. Published at Oct 8, 2018, in Energy

The Board of MEC Resources Ltd (ASX:MMR) today announced that it has appointed Ms Deborah Ambrosini as the Managing Director of the company effective immediately.

Ambrosini has extensive experience with MEC Resources, having been with the company for over 10 years as the CFO, Company Secretary and Executive Director and will continue in her role as CFO and Company Secretary.

Ambrosini is a fellow of the Chartered Accountants Australia and New Zealand with over 20 years’ experience in management, accounting and business development.

Her experience spans the resources, IT communications, biotechnology and financial services sectors. She has extensive experience both nationally and internationally in financial and business planning, compliance and taxation.

Ambrosini was a former state finalist in the Telstra Business Woman Awards and a recipient of the highly regarded ’40 under 40’ award held by the WA Business News.

The terms of Ambrosini’s contract remain unchanged, as previously reported in the 2018 Annual Accounts.

Today’s announcement comes a week after we reported that since July MMR has restructured its Board and announced several major changes to its main investee, the unlisted oil and gas exploration company Advent Energy Ltd. It has also flagged a new direction for the company, hinting strongly at the potential for expanding its investment portfolio beyond oil and gas, and into renewable energy.

The company’s annual report, which was released on September 28, outlined its new direction and noted its ‘significant unrealised potential, especially considering its status as an ASX listed Pooled Development Fund’.

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

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