HayPost CJSC Appeals To The Law-Enforcement Agencies With A Request

HAYPOST CJSC APPEALS TO THE LAW-ENFORCEMENT AGENCIES WITH A REQUEST TO MAKE AN INVESTIGATION

arminfo
2007-08-29 17:58:00

HayPost CJSC appealed to the Armenian law-enforcement agencies with a
request to make an investigation concerning the damage, inflicted on
the company during the last 5 years because of operation of service
vehicles.

According to the source, the company revealed serious violations of
vehicle fleet management by some employees and officials of HayPost,
supposedly involving fraud and embezzlement, and inflicting significant
losses on the company. This concerns procurement and usage of petrol,
usage of vehicles, and repairs and maintenance of vehicles. The company
applied to the law enforcement authorities to investigate the matter
and proceed accordingly.

To note, since June 2007 the company has undertaken subsequent
executive management changes, aimed at creating an image of impartial,
transparent accountable and reliable company.

To recall, on 30 November 2006 the complete block of shares of HayPost
CJSC was placed into the trust of the Dutch CJSC "Haypost Trust
Management", which belongs to the Dutch Postfinance and which was
created for the above-mentioned purposes. The agreement on management
was signed for a five-year term, with a right to prolong it for five
more years.