SDX Energy PLC - Middle East and Africa-focused oil and gas company - Says recently suspended employee emailed SDX stakeholders raising concerns about in-country financial operations related to local tax compliance. Says allegations are "without merit" and are being dealt with.
"The company has received tax advice from local tax compliance specialists, including a 'big four' accounting firm, in relation to the alleged matters and the company strongly believes it complies with all local tax requirements. The company is taking all appropriate steps to protect its position," SDX says.
In addition, appoints former Goldman Sachs executive director Daniel Gould as managing director. This appointment comes as SDX Energy has undergone several executive changes over the
Interim Executive Chair Jay Bhattacherjee said: "We warmly welcome Daniel into the new leadership group of SDX. We are developing a new team culture, which will be focused on delivering the mandate given to the company by its shareholders to deliver sustainable value with the eventual return of capital to shareholders at our core."
Current stock price: 4.80 pence, down 5.9% on Wednesday
12-month change: down 42%
By Sabrina Penty, Alliance News reporter
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SDX Energy (SDX)