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Afren – Share Price over-reaction to alleged boardroom backhanders? I think so.

Tom Winnifrith
Sunday 3 August 2014

On balance I’d buy Afren (AFR) today at 112p with its shares having plunged 24% on the suspension of its CEO Osman Shahenshah and COO Shahid Ullah. I am no expert on the fundamentals so this is not a tip but it strikes me that the market has over-reacted to the suspension of these two chaps.

They have been suspended following an investigation carried out by Willkie Farr & Gallagher (UK) LLP 

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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