St Helena : St Helena Arrest - Solomons Tell Their Side of the Story
Submitted by Saint Helena Herald (Juanita Brock) 12.10.2009 (Article Archived on 26.10.2009)
The accounts of Solomon & Company (St Helena) Plc are contained in a document belonging to the Company and I would advise the public that the Company did not provide this document to the media.
Press Release from Solomon’s
I refer to the news item from Saint FM this morning (Friday, 02 October 2009), relating to the publication of a news item regarding Solomon’s accounts, last week.
The accounts of Solomon & Company (St Helena) Plc are contained in a document belonging to the Company and I would advise the public that the Company did not provide this document to the media.
As such, this represents a serious breach of confidentiality for the Company; as the accounts have been advised to the general public before the shareholders have accepted them, through the process of the Annual General Meeting.
Good governance dictates that Solomon & Company (St Helena) Plc complies with the Articles of Association of the Company, as a public limited company.
As Chief Executive Officer of the Company, I have a responsibility to the Company's shareholders to operate within the governance procedures of the Company. Under these procedures, the accounts should not be released for general public information, until the shareholders have accepted them formally at the Annual General Meeting.
Immediately following the announcement of the details of the Solomons' accounts last week, the shareholders of the Company, who represent a significant proportion of our island community; were each advised by individual letter that a breach of confidentiality had occurred and that I would be undertaking an investigation to identify who provided this document to Saint FM; without the authorisation of the Company.
The focus of the investigation was to ascertain how Company information was provided to the media, without the authorisation of the Company it belongs to. Consequently, I made a report to Inspector Jonathan Thomas, requesting a police investigation into the matter and I can confirm, at the time of this press release; that the police investigation is ongoing.
Mandy G Peters
Chief Executive Officer
Solomon & Company (St Helena) P l c
8 October 2009
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