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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » What happened to Vignarajah's IMS?

What happened to Vignarajah's IMS?

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1What happened to Vignarajah's IMS?  Empty What happened to Vignarajah's IMS? Mon Jul 29, 2013 9:56 pm

bestazhar


Stock Analytic
Stock Analytic
Despite the announcement of the formation of an Association of Independent Minority Shareholders (IMS) of Sri Lanka in October 2012 by a group of public interest litigants and key figures in the corporate sector with the intention of safeguarding the rights of minority stakeholders in Colombo Stock Exchange, the organization has so far been silent in its activities, The Nation observes.

“We are still in the process of selecting individuals who are genuinely interested in ensuring good governance,” good governance and minority shareholder activist, K.C Vignarajah, who spearheads the association, said.

He noted the association only welcomes people who are serious about trade and they should not be influenced by ‘mafia’ operational in the CSE.
“For those who wish to become members of the Association, the qualifying criteria of a minority shareholder will be someone who hold a stake in at least 10 companies and possess shares worth of Rs.300,000 in total,” the activist confessed.

When asked whether he is able to provide a timeframe of when the screening process is to be completed, Vignarajah replied in the negative adding that “It takes time”.

Courtesy: The Nation

http://www.nation.lk/edition/biz-news/item/19574-what-happened-to-ims?.html

2What happened to Vignarajah's IMS?  Empty Re: What happened to Vignarajah's IMS? Tue Jul 30, 2013 2:03 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
What happened to Vignarajah's IMS?....

“For those who wish to become members of the Association, the qualifying criteria of a minority shareholder will be someone who hold a stake in at least 10 companies and possess shares worth of Rs.300,000 in total,” the activist confessed.

"In total" means upper limit of 300,000 ?

As they are talking about the minority, this means your total holding should be Rs.300,000 or below.  

If that so, then how can you name it Vignarajah's IMS when he doesn't qualify to become a member of the association ?

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