# Petropavlovsk PLC appoint KPMG LLP to examine historic Group transactions with related parties

- Link: https://www.directorstalkinterviews.com/petropavlovsk-plc-appoint-kpmg-llp-to-examine-historic-group-transactions-with-related-parties/412940585
- Published: 2020-11-23T09:21:06+00:00
- Author: Giles

**Petropavlovsk PLC** (LON:POG) has announced the appointment of KPMG LLP to undertake
a forensic investigation into certain transactions undertaken by the Company and
its subsidiaries, and IRC Ltd and its subsidiaries, in the three years to August
2020.

The investigation, principally into related party transactions, was proposed at 
the Requisitioned General Meeting on 10 August 2020, and approved by 84% of shareholders.
The formal investigation will start immediately. The Board believes that it has 
already identified several areas which warrant further enquiry and will be providing
such information to KPMG.

The Company encourages any party or person with knowledge relevant to the investigation
to contact KPMG at Resolution19@kpmg.com in confidence.

> **James W Cameron Jr, Petropavlovsk Chairman said,** “The Board is pleased to 
> announce the appointment of KPMG in accordance with shareholders’ instructions
> and welcomes the commencement of the investigation. Petropavlovsk has failed to
> deliver value to its shareholders and employees over many years, and we believe
> that poor governance and controls have been a major contributory factor. The current
> Board is committed to transparency and exposing any historic instances of failed
> corporate governance, as well as to the recovery of any misappropriated funds 
> or assets.”

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