Francisco Bellon resigns as Berkeley director after CNMV sanction

This Friday, Berkeley Energia informed the National Securities Market Commission (CNMV) of the resignation of Francisco Bellon as director of the company for “personal reasons.” However, Bellon will continue to work for the company as director of operations, so he will continue to hold a leadership position.

The resignation comes after the exclusive publication on elDiario.es that the National Securities Market Commission (CNMV) fined Francisco Bellona for a “very serious” violation of the Securities Market Law, ultimately seizing a profit of 40,000 euros from the purchase and sale company securities. 2020, while having insider information that the company did not immediately bring to the market.

The sanction is recorded in a ruling by the National Court, which on March 19 rejected the preventive suspension of publication of the fine requested by Bellon, president of Berkeley Minera España, organizer of the open-pit uranium mine in Retortillo (Salamanca), which the Government vetoed in 2021.

The Australian company recently announced that it would submit its dispute against Spain over the Retortillo (Salamanca) uranium mine project to international arbitration at the International Center for Settlement of Investment Disputes (ICSID).

Specifically, the company announced its intention to refer the case to ICSID through its subsidiary Berkeley Exploration Limited (BEL) after the Spanish government did not enter into any negotiations in this regard following the November 2022 notification to the President. Executive branch and the Ministry of Ecological Transition and Demographic Problems.