Petaquilla denies Martinelli a shareholder

The narrative of the Financial Pacific scandal with allegations that President Martinelli was part of a scheme to manipulate share prices of Petaquilla Minerals, took another turn on Saturday. December 29.

Rodrigo Esquivel, president of the mining company issued a statement claiming that : "According to the records of the Register of Shares of Petaquilla Minerals, LTD., Mr. Ricardo Martinell Berrocal, President, has not been and is not a shareholder in this company and not listed as a director or officer of any legal person shareholder of this company, nor have been nor are presidents who preceded him

Meanwhile, Roberto Brenes, executive vice president and manager of the Panama Stock Exchange, said the allegations in thiS case were of using information of granting rights to Petaquilla Minerals for friends and relatives of the President to buy shares before they went up in price.
"Here there is no question whether or not the President has shares, the issue is the use of inside information to take advantage," he said.
"Petaquilla Minerals, LTD., says the company’s statement  is a public company listed on the stock exchange in Canada, with 220 million shares issued and outstanding, with about four thousand (4,000) shareholders in four (4) continents.
The shares of this company are not traded on the Stock Exchange of Panama, transactions occur in the stock market in Toronto, New York and Frankfurt. "
The company's reaction came a day after ), Niurka Palacios deputy minister of Social development (Mides) said on FOX that "maybe" Martinelli had shares in Petaquilla. The statement was immediately recanted.