Legal Action Pending28 Jan 2026 08:07
Furthermore, this funding will allow Chief Executive Officer, Mavriky Kalugin, to maintain his activities including an internal audit and review, of the, currently, impaired Texas Assets and the circumstances that led to the highly irregular share trading activity and price movements following Pennpetro USA, Globalvision and certain "Lithium" claims, per previous RNSs.
This activity was overseen by the CEO in office at the time of issuance of the misleading RNS, with clear visibility that the Company would imminently be suspended from trading on the exchange due to an impending failure to publish audited accounts on-time.
This being the third time under that same individual's stewardship that Pennpetro has been suspended for the same cause, it is inconceivable that the timing and the resultant position of the Company, in suspension, could possibly have been misunderstood.