Afren (AFR)


Afren chairman seeks to regain confidence of stakeholders

Chairman, Egbert Imomoh, told shareholders at today's AGM of Afren that the last 12 months have been far from what was planned and results have been disappointing and have led to a very sharp drop in the share price and a loss of confidence by stakeholders.

But he said he believed the company can face the future with confidence given the quality of its assets, the good relationship with its partners, the injection of capital and the attraction of very competent people into the company.

He added: "I want to thank our shareholders, bondholders, partners, staff and all other stakeholders for their patience and forbearance in what has been a very difficult period for the company.

"I would like to end by reiterating the new Board's commitment and determination to regain the confidence of all our stakeholders, and set Afren back on the course to value growth once more and where it truly belongs."

At 11:43am: (LON:AFR) Afren PLC share price was +0.05p at 2.05p