Otto Energy Limited announced board management changes. Otto's Chairman, Mr. Ian Boserio, has confirmed to the Board, and the Board of Otto has agreed, that he will resign from the Board effective immediately. Mr. John Jetter has been elected by the Board as Chairman effective immediately. The Board believes Mr. Jetter`s long experience as a senior executive of JPMorgan, as well as his strong financial acumen, means he is the appropriate candidate to assume the position of Chairman in the current environment. Mr. Jetter will further lead an initiative to implement a Board renewal process immediately following completion of the capital raise. The Board intends to conduct an extensive search that will involve a number of changes to the Board composition. As part of the above transition, the composition of the Remuneration and Nomination Committee is now John Jetter (Chair elect), Mr. Paul Senycia and Kevin Small. The composition of the Audit and Risk Management Committee is now Mr. Paul Senycia (Chair) and Mr. John Jetter.