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Financial News

Feb 2014 Financial News

TCL - Updated Notice – Court Matter Related to Shareholders’ Proposal

Feb 20, 2014

Further to our last advisory on December 10, 2013 we wish to advise that at the last hearing of the matter on Monday 3rd February, 2014, the Trial Judge fixed the following dates for trial:

- Friday 28 March, 2014
- Wednesday 2 April, 2014
- Monday 7 April, 2014.

History of the Matter:

On Friday 12th July, 2013, the date originally carded for TCL’s AGM, the Honourable Mr. Justice Harris granted the injunction request put forward by the group of TCL’s minority shareholders (collectively holding 5.68% of the company) which subsequently halted the AGM one hour before it was scheduled to begin. An appeal was immediately filed; however the injunction was upheld in the Port of Spain Court of Appeal on November 20, 2013 by Justices of Appeal Soo Hon, Rajnauth-Lee and Narine. The matter is now before the Honourable Mr. Justice Hannays in the High Court for trial.

Inquiries or comments may be directed to the Group Manager – Legal/Company Secretary at TCL, Claxton Bay.


Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday February 20, 2014