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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » TWOD Announcement

TWOD Announcement

Go down  Message [Page 1 of 1]

1TWOD Announcement Empty TWOD Announcement Wed Sep 04, 2013 10:42 am

sriranga

sriranga
Co-Admin
http://www.cse.lk/cmt/upload_cse_announcements/9791378270185_.pdf


TWOD Announcement Twod10



Last edited by sriranga on Wed Sep 04, 2013 10:46 am; edited 1 time in total

http://sharemarket-srilanka.blogspot.co.uk/

2TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 10:44 am

K.Haputantri

K.Haputantri
Co-Admin
?When was the case filled. Vital info with-held.

3TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 10:49 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yes Until .....


@K.Haputantri wrote:?When was the case filled. Vital info with-held.

4TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 10:54 am

sriranga

sriranga
Co-Admin
https://i.servimg.com/u/f76/18/50/18/25/touchw10.jpg

Source:Daily News 30/08/2013
The above image uploaded by Lord Toad in the following thread.
http://forum.srilankaequity.com/t29571-touchwood-good-share?highlight=touchwood

http://sharemarket-srilanka.blogspot.co.uk/

5TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 11:07 am

K.Haputantri

K.Haputantri
Co-Admin
Thanks Shri. Accordinly, the case was filled on 24th July, 2013. The company did not declare this info even after the SEC directed them to do so. ?What action SEC intend to take on this "delay and also intentional with-holding vital info".

6TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 12:38 pm

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
@K.Haputantri wrote:Thanks Shri. Accordinly, the case was filled on 24th July, 2013. The company did not declare this info even after the SEC directed them to do so. ?What action SEC intend to take on this "delay and also intentional with-holding vital info".
Suspend..

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s Touchwood Investments, which has seen its share price slump following attempts to wind up the company, said on Wednesday that it would vigorously defend a ‘winding up’ petition.

In a notice to the Colombo Stock Exchange, the company’s deputy chairperson S. Maloney, said a petition has been filed in the High Court to wind up the company in respect of a sum of Rs. 3 million that the company allegedly owes the petitioner D.L.R. Nanayakkara. She said the company has already filed an affidavit of objection against the petition.

Stock market analysts said that due to its background, Touchwood – which is in the business of managing forestry - has always been a touchy stock in the market. The share price hit an all-time low of Rs.180 per share this week. The company which initially drew issues over accounting procedures raised by regulators, was later absorbed under the umbrella of the LOLC group but subsequently returned to Ross Maloney, the founder of the firm. The company also promised to invest foreign cash in the troubled Central Investments & Finance Ltd (CIFL) in a deal agreed with the Central Bank. But that transaction also was not fulfilled and now several police complaints against cheating depositors have been filed against the directors of the company, which are now before court.
http://sundaytimes.lk/news/news/37199-troubled-touchwood-vows-to-defend-winding-up-petition.html

8TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 7:02 pm

kasun333


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
surely TWOD sheare price tomorrow will come to below 1 ruppes.

9TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 8:52 pm

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
If the company is worth, why directors are shedding their holdings? I think now non of the directors are shareholders of the company.

10TWOD Announcement Empty Re: TWOD Announcement Wed Sep 04, 2013 11:13 pm

sadikeen


Stock Analytic
Stock Analytic
Touchwood published their annual report on 02nd September 2013 with their financials for the year ended 31/03/2013 which was prepared on GOING CONCERN basis and approved by the Board of Directors on 16/08/2013 despite the winding up petition filed on 24/07/2013.

The directors have failed to disclose the existence a petition for winding up in the annual report and also failed in their fiduciary duties towards the shareholders by withholding such vital information for more than a month.

Now their AGM is scheduled for 26/09/2013 and it will be interesting to see how shareholders react to above failures.




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