Government-owned companies failed to hold shareholder-meetings

POSTED: 09/2/11 11:46 AM

St. Maarten – “Many government-owned companies” have not called shareholder meetings to give discharge to the boards for the financial statements “for quite some years,” Vice Prime Minister Theo Heyliger said this week. He mentioned the Harbor Group of Companies and the airport as examples.
The Minister said that he expects these meetings to be called within the next two weeks. “The companies have submitted financial statements to the government, but I do not know why the boards were not given their discharge. Nothing earth-shattering came out of the financial reports; the companies followed all the rules and hired external accountants to do the auditing.”
Heyliger said that, as soon as the shareholder meetings have been held and the boards are discharged, the process of appointing new board members will get underway. Answering questions from journalists during Wednesday’s press briefing, Minister Heyliger said that there were no candidates yet for vacant posts on the board of the Harbor Group of companies.

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