Financial Times

Hunters' directors call for EGM

Hunter and Company Ltd. (Hunters) has said that it will convene an Extra-ordinary General Meeting on October 9 in a bid to clarify matters relating to Hunters' former auditors, Ernst and Young's (E&Y's) resignation.

In a filing to the Colombo Stock Exchange, Hunters’ directors have said, " E&Y has informed the company that since they are no longer the auditors of the company, they do not wish to take on the assignment (to review the disappearance of Rs. 2.5 million cheque as requested by T.T. Al Nakib, a shareholder).”

In a letter to Hunters' Company Secretary, Mr. Nakib moved to convene an EGM recently to call explanation from Hunters' directors with regard to 'disappearance of Rs.2.5 million cheque in favour of a Mr. Mahesh Gajanayake and about directors' remuneration over and above the limit set out in the company's Article 107.

The Hunters’ statement further said, “In the circumstances, your board is of the view that it would be in the interest of both the company and the shareholders to further clarify this matter as to clear any unwarranted misgiving the shareholders may entertain in relation to this transaction…….."

Top to the page  |  E-mail  |  views[1]
Other Financial Times Articles
Key LMSL hearing in SC tomorrow
Share repurchase needs to be thought through
Britannia biscuits thro Murali clan
Vallibel deal to be finalised in 3 weeks
Rajaratnam: Rich American from Sri Lanka
Giant-size concrete blocks
Duty to the public - Comment
Gender perspective in the Budget urged in new study
Fitch warns of liquidity crisis in finance cos. if economy weakens
ICASL’s 29th National Conference next month
Two ambitious projects to promote domestic tourism launched
SLT VisionCom launches much-awaited IPTV
Corporate Governance on Finance Companies - Letter
PBJ’s extended pleasure expedition - Letter
JKH Group awards schols to children of employees
‘Garments without Guilt’ campaign shines at AME awards 2008
HSBC arranges $45 mln loan for Mobitel
Ceylon Glass changes name Piramal Glass Ceylon PLC
Years of research into Samahan
IFC roadshow for SMEs in Ratnapura


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo, Sri Lanka. All Rights Reserved.