Feb 2011 Financial News

Resignation of National Flour Mills Limited (NFM) Directors

Feb 11, 2011

It has recently (February 04, 2011) come to the attention of The Trinidad and Tobago Stock Exchange (“TTSE”) that National Flour Mills (“NFM”) has advised its shareholders of the resignation of five (5) of its six (6) directors.

These vacancies have not been filled and cause NFM to be in breach of Section 64 of the Companies Act which provides that a public company shall have no fewer than three (3) directors.

It has also come to the attention of the TTSE that NFM has sent a Notice to Shareholders dated February 15, 2011 convening a special meeting on March 3, 2011 to fill the vacancies in the Board of Directors as required by section 77(2) of the Companies Act.

Notice of the resignation of five (5) of its six (6) directors, the effective date of the resignations and the Notice convening the Special Meeting were not disclosed by NFM to the TTSE as required by the Rules of the TTSE.

The TTSE has strongly reprimanded NFM for the above breaches and would have taken
stronger action if the Special Meeting of shareholders had not been called to fill the vacancies in the Board of Directors.

The TTSE wishes to remind all publicly Listed Companies of their obligation under the Rules of the TTSE to immediately disclose to the TTSE and the investing public all material changes and material information.


BY ORDER OF
THE BOARD OF DIRECTORS OF
THE TRINIDAD AND TOBAGO STOCK EXCHANGE LIMITED
February 11, 2011


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday February 11, 2011