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Aiteo Group has denied report that the recent appointment of Bruce Burrows as its Chief Financial Officer was aimed at finding a buyer for part of the company’s Oil Mining Lease (OML) 29, saying that it has no plan to sell part of its plum assets.
The company has also described the peddlers of the fake news as fraudsters running reports-for-cash syndicate, who mislead the public by suggesting that a portion of the shareholding of the company that holds OML 29 had been put up for sale to repay a loan.
Aiteo’s Senior Manager in charge of Corporate Communications, Mr. Ndiana Matthew said in a statement on Tuesday that the company did not consider, initiate, or announced the commencement of any plans to sell off any of its stake in OML 29.
The statement added that the claim that Burrows’ recent appointment as the company’s Chief Financial Officer was aimed at finding a buyer for part of Aiteo’s assets was spurious.
“All of our stakeholders familiar with our strategic vision can attest that Aiteo continues to invest in the right people to deliver on that vision. Mr. Burrows’ appointment is simply to further strengthen our financial discipline as one of the most innovative, reliable and diverse oil and gas companies operating in Nigeria today. Burrows joins a team of highly trained, experienced and world-class talent that currently guide the day to day activities of Aiteo,” said the company.
“For the record, OML 29 was indisputably, legitimately and transparently secured in an internationally conducted divestment by the private entity, Shell. The funding of this acquisition was made possible through a syndicated loan involving several Nigerian banks. Since then, we have continued to meet our financial obligations as and when due, like every other responsible, global conglomerate of our stature,” the company added.
The company has also described the peddlers of the fake news as fraudsters running reports-for-cash syndicate, who mislead the public by suggesting that a portion of the shareholding of the company that holds OML 29 had been put up for sale to repay a loan.
Aiteo’s Senior Manager in charge of Corporate Communications, Mr. Ndiana Matthew said in a statement on Tuesday that the company did not consider, initiate, or announced the commencement of any plans to sell off any of its stake in OML 29.
The statement added that the claim that Burrows’ recent appointment as the company’s Chief Financial Officer was aimed at finding a buyer for part of Aiteo’s assets was spurious.
“All of our stakeholders familiar with our strategic vision can attest that Aiteo continues to invest in the right people to deliver on that vision. Mr. Burrows’ appointment is simply to further strengthen our financial discipline as one of the most innovative, reliable and diverse oil and gas companies operating in Nigeria today. Burrows joins a team of highly trained, experienced and world-class talent that currently guide the day to day activities of Aiteo,” said the company.
“For the record, OML 29 was indisputably, legitimately and transparently secured in an internationally conducted divestment by the private entity, Shell. The funding of this acquisition was made possible through a syndicated loan involving several Nigerian banks. Since then, we have continued to meet our financial obligations as and when due, like every other responsible, global conglomerate of our stature,” the company added.
