Financial Times

Hunter’s company secretaries quit
 

S.S.P Corporate Services Ltd, Secretaries to Hunter and Company Ltd resigned on Friday less than a month after Hunter’s asked its auditors Ernst & Young to resign in a dispute over ‘material disclosure’ in the company annual report.

“On a similar issue S.S.P Corporates has also resigned,” a company source told The Sunday Times FT. He said SSP tendered its resignation over an issue of non disclosure of material information. T. T. Al Nakib, a shareholder (with 15.58 percent) of Hunter’s on July 23 requested an extra-ordinary General Meeting (EGM) in a bid to resolve some accounting discrepancies in the company.

The stormy EGM saw shareholders accusing the directors of not being independent, and the board decided to convene a second EGM to be held on September 2. Mrs. L. R. P. Dossa, daughter of former Finance Minister Ronnie De Mel, is the main shareholder of the company with 70.31 percent. Respected corporate leader Cubby Wijetunga is the chairman of the near-100 year-old company.

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