Two New Directors for BLUE

Genting · 1 Two New Directors for BLUE Mon Sep 19, 2011 7:44 am

Genting

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http://www.cse.lk/cmt/upload_cse_announcements/1901316416657_.pdf

These two have been appointed with effect from 16th Sep.
Were they got appointed on 15th Sep EGM? If so, why didn't they announce this on 16th ?
Are they ECL/BAT appointments? Last time BLUE directors were saying they don't need new Directors because they can manage with current Directors.

Last edited by Genting on Mon Sep 19, 2011 7:49 am; edited 1 time in total (Reason for editing : typo error)

kj · 2 Re: Two New Directors for BLUE Tue Sep 20, 2011 2:23 am

kj

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BLUE Diamonds Jewellery Worldwide announced today that it had appointed Monoj Bathiya Kumar Satharasingha and Manikkarasaga Thiyagaraja to its Board of Directors with effect from 16 September.

A proposal by British American Technologies to appoint five new directors to the Board of Blue Diamonds Jewellery Worldwide was recently rejected by shareholders at an Extraordinary General Meeting on the grounds that it did not comply with Section 203 of Companies Act No. 7 of 2007.

British American Technologies which owned a little over 10 per cent of Blue Diamonds sought five board seats in the company.

Blue Diamond’s Board at present includes Managing Director Bandula Ranaweera, Godfrey de Krester, K.V.D.D.A Dias, A.R. Gunawardena, A.D. Jegasothy, M.M.N. Priyantha, S.R. Wijesinghe, W.K. Galagoda, H.A. Wehelle and W.P.J.L.M. Fernando. De Krester was recently appointed Deputy Chairman of Blue Diamonds.

source - www.ft.lk

peresanjeewa@gmail.com · 3 Re: Two New Directors for BLUE Wed Sep 21, 2011 4:32 am

peresanjeewa@gmail.com

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ECL is trying to grab control because they know the valuable Licence Blue is having. They will definitely think of the other ways of getting in to the board. AGM will be on 7th. I think blue will hit the range in between 15-20 .