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Financial News

Oct 2013 Financial News

TCL Notice to Shareholders and Employees - Rescheduled Date of Hearing

Oct 24, 2013

NEW HEARING DATES - SHAREHOLDER’S PROPOSAL

Further to our most recent advisory dated Tuesday 8th October, 2013, regarding adjournment of the Court of Appeal Hearing and the High Court Matter, both of which pertain to the injunction, which stopped TCL’s 2012 Annual Meeting, we wish to advise that the rescheduled dates have been confirmed as follows:

Court of Appeal Hearing: Wednesday 13th November, 2013.
High Court Matter: Monday 02nd December, 2013.

This matter arose when the Honourable Mr. Justice Harris granted an injunction restraining the holding of TCL’s Annual Meeting on Friday 12th July, 2013. TCL immediately filed a Notice of Appeal challenging the injunction.

The High Court matter was originally slated for Friday 4th October, 2013, but was later adjourned to Monday 14th October, 2013. The Court of Appeal Hearing was initially set for Monday 30th September, 2013, but was rescheduled to Wednesday 9th October, 2013. Due to the unavailability of the Senior Counsel representing the shareholder group, this hearing was again postponed to the new date stated above.

We shall continue to keep you apprised of related developments. Meanwhile, all inquiries may be directed to: Group Manager, Legal / Company Secretary at kbaptiste@tclgroup.com or 659-2381 ext.4630.

The Shareholders’ Proposal was submitted by a group of eleven shareholders holding 5.68% of TCL, and includes Wilnet Holdings Limited, Stephen Espinet, MASA Investments Limited, Brimont Limited, Kamal Ali, Alescon Readymix Limited, Bourne Investment Inc., Tatil Life Assurance Limited, Nicholas Development Limited, Helen Bhagwansingh and Issa Nicholas Holdings.


Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday October 24, 2013