Big row expected at Lundin AGM
Things are shaping up for a major row at Lundin Petroleum’s shareholder meeting on Thursday. Among others, Folksam is demanding an independent enquiry into the company’s actions in Sudan. The company is refusing point-blank and is supported by Första AP-fonden and AMF.
Folksam has stood up for an independent enquiry into the Sudan affair, but the other major shareholders are divided on the question. According to Dagens industri, among others AMF and Första AP-fonden are following Lundin’s line and rejecting an enquiry.
Första AP-Fonden CEO Ossian Ekdahl, considers that the enquiry initiated by the public prosecutor is sufficient.
But both Första AP-fonden and AMF are critical of Lundin boss Ashley Heppenstall’s arrogant attitude.
“We demand greater tact from Lundin in the future,” says Anders Oscarsson, president of AMF funds, to the paper.
“The CEO’s statement is very provocative. I do not agree with him. We own a large number of shares in companies which we have views about and are not a hundred percent happy with,” says Ossian Ekdahl.
According to Svenska Dagbladet, several other major shareholders are supporting Folksam’s demands for an independent enquiry. Svenska Dagbladet has seen a letter to Lundin in which, among others Andra and Tredje AP-fonder as well as Robur are demanding that an enquiry be conducted.
The company’s chairman Ian Lundin repeats to Dagens industri the statement that there will not be an enquiry and that those who do not agree should sell.
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
