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Afren is hit by suspensions
OIL EXPLORER Afren’s shares crashed over 26 per cent yesterday, after it suspended its chief executive Osman Shahenshah and chief operating officer Shahid Ullah, following alleged “unauthorised payments” to both from third parties. The action followed an internal review.
Afren, active in Africa and the Middle East, postponed its half-year results, saying there was no evidence other board members were allegedly involved, with Toby Hayward to be interim CEO as the probe continued.