Eric D. Schwerin
All -
As I believe you know I spoke to Jim Risen from the NYT this afternoon. He's writing a piece on Burisma (likely tied to the VP's visit next week). He had a series of questions. Eric and David and I spent some time on answers and I've promised these to Risen tomorrow morning eastern time.
Have a look at the below and please pass on any tweaks or edits. Many thanks in advance.
1. Where do things stand with the owner? Is NZ still the owner?
Answer: Yes. Nikolai is the owner of the company.
2. What is the status of the “money-laundering and bribery” case in the UK? NZ’s assets in UK were once frozen but now unfrozen. Does the company have a comment on the issue?
Answer: We welcome this question. Not only was the case dismissed and the company is vindicated by the outcome, but it speaks volumes that all his legal costs were recouped as part of the UK Serious Fraud Office's decision.
3. He said there seems to be conflicting info about ownership historically. Did Igor start the company and then sell to NZ?
Answer: Nikolai is the owner of the company and has maintained his controlling interest for a number of years.
4. The US Ambassador to Ukraine Geoffrey Pyatt gave a speech in September in Odessa criticizing government officials for obstructing efforts to combat corruption and graft and specifically called out NZ and millions of dollars in illicit assets that he had in the UK. How does the company respond to this speech and calls for investigations into officials who the ambassador says are obstructing reform?
Answer: "Strong corporate governance and transparency are priorities shared both by the United States and the leadership of Burisma. Burisma is working to bring the energy sector into the modern era which is critical for a free and strong Ukraine. These are the goals that attracted respected American and European political and business leaders to join Burisma's Board, including leaders like Polish statesman President Aleksander Kwasniewski.”
5. He noted that Burisma is looking at expanding into Kazakhstan. Is this true?
Answer: Absolutely. Burisma is focused on growth, and looking to expand into a number of different markets including Kazakhstan.
6. What lobbying activities is the company engaged in the US. Is David Leiter still retained as the company’s lobbyist in DC?
Answer: No -- no one is lobbying on their behalf.
7. Is Hunter Biden still a member of the board? What is his current activities with the company?
Answer: Yes, Hunter remains focused on sound corporate governance, strengthened transparency, and the entity's geothermal efforts.
8. Are Devon and Hunter still partners in Rosemont Seneca? What other companies are they involved with?
Answer: Yes. Rosemont Seneca is a business advisory and consulting firm and that is Rosemont Seneca's sole focus.
Ryan F. Toohey
917.280.2198
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