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Petropavlovsk says co-operation 'restored' with dissenting senior employees
StockMarketWire.com
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Russia-focused gold miner Petropavlovsk said 'a lack of co-operation' from some senior employees were being positively resolved.
The company, which recently underwent a board and management overhaul, had in October reported issues with 'a small group of senior employees' and ongoing legal issues.
'These matters have improved markedly in recent weeks, with co-operation restored and a further update will be provided at the group's annual results,' Petropavlovsk said.
The company also said its mines continued to operate as normal, 'despite the significant ongoing challenges presented by the Covid-19 pandemic.'
It also noted that is former chief executive, Pavel Maslovskiy, was on 24 December reported to have been arrested in Russia on a charge of embezzlement related to a real estate transaction in 2018.
'The proceedings will be monitored and, to the extent that they impact on or involve the group, we will update the market accordingly,' Petropavlovsk said.
Story provided by StockMarketWire.com
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