|
October 3, 2007: Concerned shareholders of the
National Investment Company of Anguilla Ltd. met on 2nd
October 2007, primarily to discuss two pressing issues -
outlined below. According to a release from the group,
the meeting authorised the submission of a resolution to the
Board of Directors of the company calling for the National
Investment Company of Anguilla Ltd. to be voluntarily wound
up, under the supervision of the Court, and for the assets
of the company be sold, the debts be paid off, and the
balance distributed among the shareholders. It also calls
for Mr. Avondale Thomas of Antigua to be the
Liquidator of the company. Details of the issues
discussed at the meeting
The first issue was a meeting that the NICA Board had called
with some of the shareholders at the Board Room of the
National Bank of Anguilla on Thursday 27th September.
Members expressed their disappointment that they had learned
from this meeting that the Board had not taken any steps
over the past three years to prosecute the offences revealed
in the Report of Mr Avondale Thomas.
Members were also very disturbed to learn that the Board had
given the Rum Factory a new lease of the property at Sandy
Ground on very unfavourable terms. Particularly distressing
for the members to learn was that the Board was proposing to
invite the participation of Trinidadian and US developers in
a scheme to develop the Gibbons Estate at Lockrums.
The second issue that the shareholders discussed was the
announcement from the Board that they had heard on radio the
day before. This was to the effect that a general meeting of
the shareholders would be called for 22 October at the
Stoney Ground Primary School at 5:00 pm. The purpose of the
meeting apparently was to elect new directors and to change
the Auditor of the company. Members agreed that it was
expected that at this meeting, the Board would give an
account to the shareholders of their stewardship over the
previous three years. It was also expected that a Motion for
the winding up of the company would be on the Agenda. In the
circumstances, no new directors should be appointed as the
directors would be replaced by the Liquidator once he was
appointed. Similarly, no new Auditor should be appointed. We
were now past the stage where audits were required. It would
be a waste of money to audit the accounts just before the
company was put into liquidation. Members agreed that they
would contact all persons known to be shareholders and urge
them to attend the meeting and to vote to bring the company
to an end.
----------------------------------------------------------------------------
Any person requiring further information should contact
either of:
Mr Bob Rogers at 497 2474
Mr Collins Richardson at 497 2819
|
