Anglo American launches share sale in platinum unit amid demerger plans
The shares on offer represent about 5% of Amplats' total issued ordinary shares.
UK authorities charged a sixth former Glencore Plc employee in their sweeping corruption case, as Alex Beard, the billionaire former head of oil at the commodities giant, appeared for the first time at a London court.
Beard, 57, was accused last month by the Serious Fraud Office of conspiring to make corrupt payments to government officials and state-owned oil firm employees in Nigeria and Cameroon more than a decade ago.
Also appearing on Tuesday was David Perez, another ex-Glencore employee, who was charged with corruption.
Beard, among Glencore’s longest-serving top executives before his departure in 2019, is one of the most senior oil traders ever charged with a crime. His lawyer indicated at the Westminster Magistrates Court hearing that Beard would plead not guilty.
Appearing alongside them was Andy Gibson, Glencore’s ex-head of oil operations. Gibson, Beard’s second in command, was accused of four counts of conspiracy to make corrupt payments in Nigeria and Cameroon between 2007 and 2014, and Ivory Coast between 2007 and 2010. He was also alleged to have conspired to falsify invoices.
A lawyer for the SFO said for the first time in court that some of the charges were focused on Glencore’s relationship with a Nigerian agent and their company Amazoil Ltd. The lawyer said staff provided a “sham cover” for the transfer of money and cash withdrawals from Glencore’s London office.
Former Glencore employees Paul Hopkirk, Ramon Labiaga and Martin Wakefield were also in court accused of various charges of making corrupt payments to government officials and employees at state owned oil companies spanning Cameroon, Nigeria and The Ivory Coast.
The judge sent the case to Southwark Crown Court and the next hearing is scheduled to take place on Oct. 8. All six were granted unconditional bail by the judge.
Lawyers for Gibson and Hopkirk also indicated that they would plead not guilty. The other defendant’s lawyers said no plea had been indicated.
The six men, only speaking to confirm their identities, were crammed into a small courtroom with dozens of lawyers and journalists. Beard wore a navy jacket, open neck shirt and gray trousers.
(By Katharine Gemmell)
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