Management of the Liberian Project As set out in this Notice of Meeting, on successful completion of the Transaction, the Company will hold between a 95% and 100% interest of African Petroleum, the owner and manager of the Liberian Project. Outlined below is a table setting out the current directors of African Petroleum and its relevant subsidiaries and the directors of those entities as at completion of the Transaction: Entity Current Directors Directors as at completion of the Transaction African Petroleum Corporation Limited Frank Timis Mark Ashurst Gibril Bangura Karl Thompson Tony Sage Timothy Turner Mark Ashurst Gibril Bangura Karl Thompson European Hydrocarbons Limited (Cayman) Frank Timis Mark Ashurst Gibril Bangura Karl Thompson Tony Sage Timothy Turner Mark Ashurst Gibril Bangura Karl Thompson European Hydrocarbons Limited (UK) Frank Timis Mark Ashurst Gibril Bangura Karl Thompson Tony Sage Timothy Turner Mark Ashurst Gibril Bangura Karl Thompson Regal Liberia Limited Frank Timis Mark Ashurst Gibril Bangura Karl Thompson Tony Sage Timothy Turner Mark Ashurst Gibril Bangura Karl Thompson
African Petroleum Total Value of Director Options $5,578,860 Karl Thompson $796,980 Mark Ashurst $796,980 Timothy Turner $265,660 Tony Sage $1,062,640 Gibril Bangura $531,320 Alan Watling $531,320 Anthony Wilson $531,320 Jeffrey Couch $531,320 James Smith $531,320
Piltick//////////////// Sitting alongside him, Alan Watling, chief executive of African Minerals, interjects. "When Frank approached me, I looked him up on the web, I met the guy, I liked ...
Piltick 21:31 I just don't understand how an apparently decent chap like AW could have become so involved in a mess like this........................[link]
In his business dealings, Timis seems drawn to fragile, post-conflict states in West Africa. Another of his companies, African Petroleum, has offshore oil exploration leases in Sierra Leone and neighbouring Liberia.[x] Timis’ website carries claims about the corporate social responsibility and largesse of his companies, many of which have been refuted by the research of NMJD.[xi] The company benefits from numerous tax exemptions. [xii] It also lavishes money on Sierra Leonean media that generally sing Timis’ praises.[xiii] Frank Timis is not plagued by false modesty; his website contains lofty tributes from other people he has charmed over the years. Minkailu Mansaray, now Sierra Leone’s Minister of Mines and Mineral Resources, is quoted as saying, “The most heartening aspect of Mr Timis’ involvement in our country is the widespread and vigorous social responsibility programmes he has installed at African Minerals.†“Heartening†seems an odd word to describe Timis’ record of social responsibility in Sierra Leone. In April 2012, workers at African Minerals staged a peaceful protest over poor pay and working conditions and the Sierra Leonean police reacted by opening fire, killing one woman and injuring 11 other people.[xiv] An official inquiry by the Human Rights Commission of Sierra Leone found that the police “subjected the people of Bumbuna to inhuman, cruel and degrading treatment through severe beatings, kicking, molesting†and criticized the cozy but unclear relationship between the Sierra Leone police and the company. [xv] Cozy and unclear relationships and business dealings seem to have worked well for Frank Timis in Sierra Leone.