Mar 2014 Financial News

TCL Update Notice: New Trial Dates Set for Court Matter Related to Shareholders' Proposal

Mar 27, 2014

March 21, 2014.

UPDATED NOTICE: – NEW TRIAL DATES SET FOR COURT MATTER RELATED TO SHAREHOLDERS’ PROPOSAL

Further to our last advisory dated February 13, 2014, we wish to advise that:

1. The following new dates were fixed for trial at the most recent case management conference in the captioned matter, which was heard on Thursday, March 20, 2014,:
Monday, June 23, 2014
Tuesday, June 24, 2014
Wednesday, June 25, 2014.
Friday, June 27, 2014.
Tuesday, July 1, 2014 and

2. TCL filed its Defence as well as a Counterclaim against Republic Bank Limited for abuse of process on Monday, February 17, 2014.

History of the Matter:

On Friday, July 12, 2013, the date originally carded for TCL’s AGM, the Honourable Mr. Justice Harris granted an injunction request put forward by a 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 D. 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 March 27, 2014