In an agreed statement of facts between Niko Resources Ltd. and the Crown, filed with the Alberta Court of Queen’s Bench, Niko pleaded guilty to one count of bribery under the Corruption of Foreign Public Officials Act. The charge refers to two specific incidents that occurred in 2005: the provision of a vehicle for the personal use of the then-Bangladeshi Energy Minister, valued at $190,984; and the provision of travel costs to the same Minister to attend an Energy Expo in Calgary and a subsequent personal trip to New York, valued at $5,000.

The agreed statement of facts includes a recommendation on sentencing, which was accepted by the Court. The sentence includes a fine of $8,260,000 and an additional 15% Victim Fine Surcharge for a total amount of $9,499,000. Additionally, the sentence includes a Probation Order, which puts Niko under the Court’s supervision for the next three years to ensure audits are done to ensure Niko’s compliance with the Act. The costs of compliance with the Probation Order will be borne by Niko.

“What happened was wrong. We acknowledge this. We accept responsibility, and we appreciate the seriousness of the actions,” said Niko Chairman and CEO Ed Sampson. “As a result of these events we have taken extensive steps in all aspects of our organization. One such step is the creation of the position of Chief Compliance Officer who reports directly to our Board, to ensure that something like this doesn’t happen again.”

Niko will continue with its commitment to uphold and maintain the highest standards in the conduct of its business and affairs in all aspects of its operations. Niko has, since 2009, adopted a full anticorruption compliance program, training program and processes for risk assessment due diligence and compliance monitoring and reporting around the world to ensure it meets all Court probationary requirements and its own internal ethical and best practices standard. It regrets and apologizes for the errors and events which have resulted in the charges, and for its involvement.

Tags: Niko Resources Ltd.