“Independent directors blew whistle on Entrust”
With reference to a story appearing under the above headline on January 24, S. Jeyawarman, a former director of Entrust Securities, has sent the following clarification: ”I write with reference to the above article published on 24th January 2016 and wish to send a clarification of my position as a Non- executive director on the Board of Entrust Securities PLC (Company). Mr. S. Jeyavarman joined the board of the Entrust Scurities as a non-executive director with effect from 15th June 2015 and attended two regular board meetings during the ensuing period until he submitted his resignation on 6th November 2015.
He could not attend the special board meeting held on October 31, 2015 as he was away from Colombo and informed the company of his inability when he was notified about the special board meeting over the phone. On his return to Colombo he received the minutes of the special board meeting. He realised the adverse conditions prevailing in the company from the minutes of the special board meeting and submitted his resignation from the board on 6th November 2015. Since his resignation he has not been invited for any meetings. Moreover the board secretary of the company accordingly notified his resignation to the Central Bank of Sri Lanka and a copy of which was sent to him.”.