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Prospex Oil Notes Non-Executive Director Burnell's Globo Involvement

Tue, 03rd Nov 2015 16:19

LONDON (Alliance News) - Prospex Oil and Gas PLC Tuesday noted Non-Executive Director Gavin Burnell resigned from his post at Globo PLC, which has appointed administrators to handle the company's operations by court order.

Burnell remains a non-executive at Prospex but resigned from the same post at Globo last Thursday following news that Globo has reported "certain matters regarding the falsification of data and the misrepresentation of the company's financial situation" to law enforcement agencies in the UK, Greece and Cyprus last week.

On Tuesday, Prospex Oil said: "The company has been notified by Gavin Burnell, a non-executive director of the company, that administrators have today been appointed to Globo PLC by order of the court."

Prospex said further announcements will be made in due course, and its shares remain suspended for a separate issue.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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