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Australia – Bluestone director absence following corruption inquiry

20 March 2013

International recruitment specialist Bluestone Global Limited (ASX: BUE) today announced that non-executive director Andrew Poole has requested leave of absence from his duties, following a current public inquiry of the New South Wales Independent Commission Against Corruption (ICAC).

Bluestone chairman Baljit Singh said Mr Poole’s request had been approved by the board. He also said that Bluestone has no association with the companies referred to during the current ICAC public inquiry.

The companies, Doyles Creek Mining and its owner, NuCoal Resources NL, have been identified by ICAC as part of its investigation. Doyles Creek Mining Pty Limited was previously named ResCo Services. In September 2010, Bluestone, then Humanis Group, acquired those parts of ResCo Services involved solely in the provision of labour and engineering services.

The ICAC is investigating the granting of an exploration licence in December 2008 to a group of entrepreneurs covering the Doyles Creek coal tenement. Andrew Poole is a founding shareholder and director of the ResCo Group and, according to media reports in The Australian, is said to have made millions in profits from the deal.

“ICAC’s investigation refers to events concerning ResCo Services Pty Ltd prior to Bluestone’s acquisition and do not relate to those operations it acquired,” Bluestone clarified. 


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