Blue Diamonds EGM terminated

The Extraordinary General Meeting of Blue Diamonds Jewellery Worldwide was terminated due to irregularities in the requisitions.

The Extraordinary General Meeting requested by some of the shareholders of Blue Diamonds Jewellery Worldwide PLC was held on September 15 at the auditorium of the Institute of Chartered Accountants of Sri Lanka situated at No. 30 A, Malalasekera Mawatha, Colombo 7, to consider and if thought fit to pass the resolutions as ordinary resolutions to appoint Wijitha Bandara Dela, Leon Dias, Shereen Samarasekera, Derick Vernon Perera and W Ravishankar as Directors. At the meeting chaired by Chairman Bandula Ranaweera it was contested by some of the shareholders present who requested to know the qualifications of the persons who sought to be appointed as Directors of Blue Diamonds Jewellery Worldwide and whether their request for appointment was in the Prescribed Form (Form 18) as stipulated in section 203 of the Companies Act No 7 of 2007.

Chairman Bandula Ranaweera stated that the five persons who sought to be appointed as Directors had failed to submit the required information made under section 527 read with section 477 of the Companies Act No. 7 of 2007 and published in Gazette Notification No. 1493/20 of April 20, 2007 which gives the Proscribed Forms that failure to do so in the opinion of the Chairman is a fatal irregularity.

Ranaweera then said that as Chairman he has to act strictly according to the requirements of the Companies Act and therefore has to terminate the Extraordinary General Meeting since the five applicants from British American Technologies (Pvt) Ltd had not complied with the requirements of the Companies Act No 7 of 2007 and due to the irregularities of the requisitions the said resolutions were not taken-up.