Afren suspends two more directors during payments investigation
Africa-focused energy group Afren has suspended two associate directors amid suspected unauthorised payments in the firm, which had seen its chief executive and chief operating officer also suspended.
The company suspended Osman Shahenshah, its chief executive, and Shahid Ullah, its chief operating officer in July as part of its investigation into the claims.
On Thursday it announced that associate directors Iain Wright and Galib Virani had suffered the same fate.
"During such continued independent review on the board's behalf by Willkie Farr & Gallagher, the board were made aware by Iain Wright and Galib Virani that they have received payments which are linked to the previously identified unauthorised payments for the benefit of the CEO and COO. These payments were not made by the company," Afren said.
It added that no conclusive findings had yet been reached and the investigation was ongoing.
"The investigation has not found any evidence that any board members, other than Osman Shahenshah and Shahid Ullah, were involved."
Shares in Afren are down 4.45% to 105.58p at 13:00.
RD