Ukraine police still investigating JKX Oil subsidiary

JKX Oil & Gas updated the market on the police investigation into its Ukrainian subsidiary Poltava on Monday, confirming that the investigation remained ongoing.

The London-listed firm said Poltava Petroleum Company was still receiving information requests from local police in connection with the criminal inquiry of alleged misappropriation of funds liked to Poltava’s activities.

It added that the information requests followed police searches of Poltava’s offices and the homes of two of its executives on 14 June.

“PPC continues to cooperate with the investigation although the scope of the investigation appears to have broadened from the original search warrant,” the board said in a statement.

“JKX has now referred the matter to the British and US Embassies in Kyiv and has asked for their assistance in engaging with the relevant authorities to resolve the situation.”