Sign In
19 Jun 2008 09:10
ο»Ώ
19Β June 2008
MERIDIAN PETROLEUM plc
('Meridian' or the 'Company')
Response to Public Censure by theΒ LondonΒ Stock Exchange
The Board of Meridian Petroleum plc (AIM : MRP; the 'Company') notes that theΒ Β London Stock Exchange has today announcedΒ a public censure of the CompanyΒ andΒ the imposition ofΒ a Β£75,000 fineΒ on the Company in respect ofΒ breaches of the AIM RulesΒ during the periodΒ fromΒ August 2004 to February 2007.
The Company has co-operatedΒ fully with the AIM RegulationΒ team of the London Stock Exchange in the enquiry into these breaches, and following discussions with AIM Regulation theΒ Company accepted the findings of the investigation andΒ agreed a settlement of a public censure andΒ the fine.
TheΒ censureΒ by the London Stock Exchange recognises the co-operative and constructive approach taken by the Company, and the significant changes that the Company has made in its management and governanceΒ since the period in question.
Stephen Gutteridge, Chairman,Β said: "This has closedΒ aΒ difficult chapter in the history of Meridian Petroleum.Β The Company'sΒ board and management haveΒ undergone substantial change since the breaches referred to in this public censure took place and standards ofΒ governance, procedures,Β controlsΒ and communication have been significantly improved.Β The CompanyΒ nowΒ hasΒ a strong and stable foundation and we haveΒ recently announced major new business developments to takeΒ the CompanyΒ forwards.'
For further information contact:
|
Meridian Petroleum Plc Stephen Gutteridge, Chairman +44 (0) 20 7811 0140 |
Ambrian Partners Tim Goodman +44 (0) 20 7634 4711 |
Parkgreen Communications Ana Ribeiro +44 (0) 20 7851 7480 |
Follow the stocks
