13th Jul 2016 08:25
LONDON (Alliance News) - Oil and gas explorer JKX Oil & Gas PLC on Wednesday said the police investigation into its Poltava Petroleum Co subsidiary in Ukraine is continuing.
In mid-June, JKX disclosed Ukrainian police has visited the Poltava subsidiary and the homes of two senior employees. It said the police visited the office and the homes without notice and were searching for documents in relation to the investigation of claims of alleged underpaid taxes which have been made by a local prosecutor.
JKX said the local police have continued to request additional documentation in the investigation and said Poltava is continuing to cooperate fully with the inquiries.
JKX added the action is "completely unjustified" and said it would consider taking further legal action, though it noted the investigation has not impacted its operations.
Shares in JKX were untraded on Wednesday, having last traded at 17.69 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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