Afren suspends top team over payments


Issue 283 - 09 Aug 2014 | 1 minute read

London-listed Afren on 30 July announced the suspension of chief executive Osman Shahenshah and chief operating officer Shahid Ullah, pending an investigation of unauthorised payments received by them. Afren said in a statement the payments were uncovered by an independent review carried out on the board’s behalf by law firm Willkie Farr & Gallagher “of the potential need for disclosure of certain previous transactions to the market”. The statement added: “These payments were not made by the company. The investigation has not found any evidence that any other board members were involved.”

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