Afren (AFR.L) the oil explorer listed in FTSE250 this morning announced the suspension of its chief executive officer (CEO) and chief operating officer (COO). The suspensions relate to an investigation surrounding unauthorized payments. The company in a statement said ”evidence has been identified of the receipt of unauthorised payments potentially for the benefit of the CEO and COO”.
The announcement has forced the postponement of interim results due on the 4th august and has hit the share price hard in todays trading. the company said “Whilst the board has no reason to believe that this will negatively affect the company’s stated financial and operational position, the publication of the company’s half-year results due on 4 August 2014 will be postponed.”
Afren (AFR.L) the oil explorer listed in FTSE250 this morning announced the suspension of its chief executive officer (CEO) and chief operating officer (COO). The suspensions relate to an investigation surrounding unauthorized payments. The company in a statement said ”evidence has been identified of the receipt of unauthorised payments potentially for the benefit of the CEO and COO”.
The announcement has forced the postponement of interim results due on the 4th august and has hit the share price hard in todays trading. the company said “Whilst the board has no reason to believe that this will negatively affect the company’s stated financial and operational position, the publication of the company’s half-year results due on 4 August 2014 will be postponed.”
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