Monday, September 19, 2011

No new directors following BLUE EGM

An attempt to appoint five new directors to the board of directors at the Extraordinary General Meeting (EGM) of Blue Diamonds Worldwide PLC (BLUE) failed to go through, a Stock Exchange filing said.

The appointments of these directors were rejected on the grounds that requisition to appoint them did not comply with a certain provision of the Companies Act. 

The attempt to fill the directors’ posts was believed to have headed by E-Channeling PLC, as the company was trying to grab the control of Blue Diamond. E-Channeling had 13 percent stake in Blue Diamond as at June 30, 2011.

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