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Aussie shares edge higher for the first time in five sessions
  • Shares in Triple Energy (TNP) have soared since the announcement of leadership changes within the company's board
  • Both Hongbing Zhang and Ruoyun Zhang have resigned from the board of Triple Energy to pursue other opportunities
  • Francis Lim and Tim Bardwell have been appointed as their replacements and will join the board as Non-Executive Directors
  • Triple Energy announced the shake-up on Tuesday and since then shares in the company have surged almost 150 per cent higher
  • Currently, the stock is trading for 2.9 cents each — up 93.9 per cent

Oil and gas company Triple Energy (TNP) has seen its share price spike, following the announcement of leadership changes within the organisation's board.

Triple Energy announced on Tuesday that both Hongbing Zhang and Ruoyun Zhang had resigned from the board to pursue other opportunities.

The duo will be replaced by Francis Lim and Tim Bardwell, who has been appointed as Non-Executive Directors.

Triple said Francis will bring over 30 years of experience to the role, a veteran in the structuring and negotiation of cross border business transactions in the Asia Pacific region.

While Tim brings more than 35 years of experience to the role, having worked as the Executive Director at Morgan Stanley and as Director at Deutsche Bank in Hong Kong.

Since the announcement two days ago, shares in Triple Energy have soared — increasing by almost 150 per cent — as shareholders buy-up the stock.

Investors may also be encouraged to buy-in to the company, due to the recent recovery signs seen in the crude oil market when prices began rebounding earlier this month.

Currently, TNP's share price is still trading up a considerable 93.9 per cent — dipping slightly from this morning's high — with shares worth 2.9 cents each at 12:57 pm AEST.


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