Oslo (2014-01-17): The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has indicted one Yara employee as a result of its investigation into possible corruption since 2011.
Tor Holba, who is now indicted, has been charged in connection with the case since May 2012. At that time he was a member of Yara's executive management team, but withdrew from that position on his own initiative.
As a result of Økokrim's indictment, Yara has decided to placed Tor Holba on paid leave until the outcome of the trial is known.
In addition three former Yara employees are indicted in the case.
Yara underlines that all persons involved in the case are considered innocent until proven by a court to be otherwise.
Charges have been dropped against Hallgeir Storvik. Storvik was also a member of Yara's executive management team until May 2012. He has since been responsible for Yara's mining activities.
"For Yara as a company, this has been a very serious case, and the indictments underline its gravity. At the same time, I am satisfied that Hallgeir Storvik is no longer under suspicion," says President and CEO Jørgen Ole Haslestad.
These proceedings are a result of Yara's own notification in 2011 of possible irregularities to Økokrim. At the same time, Yara launched an external investigation into the matter.
On the evening of Tuesday evening, January 14th, the Board of Yara accepted a corporate fine and confiscation totalling NOK 295 million. The fine relates to earlier incidents connected to the company's establishment in Libya, an unrealized project in India and activities in Switzerland.
Yara will not be making further statements regarding the indictments of individuals beyond this press release.
Media relations:
Esben Tuman
Phone: (+47) 24 15 70 26
Cellular: (+47) 90 50 84 00
E-mail: esben.tuman@yara.com
Investor relations:
Thor Giæver
Phone: (+47) 24 15 72 95
Cellular: (+47) 48 07 53 56
E-mail: thor.giaver@yara.com
Yara leverer produkter og løsninger for bærekraftig landbruk og miljøet. Gjødsel- og plantenæringsproduktene våre bidrar til å produsere mat til en stadig voksende verdensbefolkning. Våre industrielle produkter og -løsninger reduserer utslipp, forbedrer luftkvaliteten og muliggjør en sikker og effektiv drift. Yara ble grunnlagt i Norge i 1905 og har et globalt nærvær med salg til 150 land. Sikkerhet er alltid førsteprioritet hos oss. www.yara.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)