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…….."