Proactive Investors - Run By Investors For Investors
Why invest in CGLO?
Chagala Group: DEEP DIVE
OVERVIEW

Chagala Group under new management following takeover

Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer
Kazakhstan
OVERVIEW: CGLO The Big Picture
Chagala works for oil companies in Kazakhstan

Change is underway at accommodation specialist  Chagala Group Limited (LON:CGLO) following the takeover offer from Kazakhstan-based firm Realty Invest Holding LLP (RIH).

As a result, the existing directors of Chagala agreed to appoint Borko Moric and Bojan Moric as new directors of the company, effective from 11 October.

The Caspian-focused oil & gas services provider received acceptances representing 67.08% of the company’s share capital, with RIH having acquired that percentage at a price of US$2.15 per share.

READ: Chagala Group appoints Borko Moric and Bojan Moric as CEO and COO

RIH initially made the offer at the beginning of September, with its bid 39% higher than a previous bid of US$1.55 put forward by Asian Investment Management earlier this summer.

Francisco Parrilla, who was the chief executive officer of the Capsian-focused oil & gas services provider, remains with the company to assist in the transition on a consultancy basis.

Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer.

"I am very pleased that Mr Borko Moric and Mr Bojan Moric have agreed to step into the CEO and COO positions,” Parilla said.

“Their expertise in oil and gas industry will enable a seamless transition. I look forward to the continued evolution of Chagala as they work to grow and better serve the company's clients and communities and develop new opportunities in Kazakhstan and elsewhere," he added.

Chagala provides residential accommodation, on-site offices, catering, leisure, transport, warehousing and logistics support to all major companies involved in Kazakhstan’s emerging oil and gas industry.

View full CGLO profile View Profile

Chagala Group Timeline

Newswire
December 06 2017

Related Articles

Platinum
January 04 2019
In its outlook for 2019, the firm said the focus was now “not only on continuous improvements in feed grade and recoveries but on expanding the business into new jurisdictions”
Kazakhstan
November 20 2018
Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use