Guyana Stores directors flouting regulations – securities council

The Guyana Securities Council says the Directors of Guyana Stores Limited Ltd continue to flout regulations by neglecting to submit its accounts to the relevant stakeholders, and it said  that the retention of office by the said Directors is therefore prejudicial to the interest of the company.

On page 28 of yesterday’s edition of the Stabroek News, the Council, in an advisory, said that the Directors of Guyana Stores continue to breach “Regulation 5 and 6 of the Securities Industry (Disclosures by Reporting Issuers) Regulations 2002, which provide for the submission of annual accounts to the Council, Stock Exchange and all Stakeholders.”

The Council shared that it has written the said Directors informing them of the violation, and asking them to “make representation either in writing or in person as to why the council ought not to sanction Guyana Stores Ltd. for contravention of the aforementioned Regulations.”

Directors written by the Council on this matter include Mohamed Yassin, Khemraj Narine, Sultan Kassim, Annand C Persaud, Hubert Rodney and Naipaul Ramadhar.

To date though, there has been no correspondence from Guyana Stores Ltd addressing these matters, the advisory said.

In light of these realities the Council advised the stakeholders of Guyana Stores of their Directors’ “willful and persistent failure to discharge their obligations as Directors to ensure that Guyana Stores (Ltd) is compliant with Sections 5 and 6 of the Securities Industry (Disclosures by Reporting Issues) Regulations 2002.”



More in Local News


About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Get the day's headlines from SN in your inbox every morning:

Most Read This Week

  1. Convicted drug trafficker Barry Dataram about to be handed over to local enforcement officials by the Suriname police. Inset is the information page in the fake passport for “David Persaud” that was being used by the fugitive. (Royston Drakes photos)

    Dataram, wife returned to Guyana

  2. Back in court: In this Keno George composite photo, Barry Dataram (left) and his wife Anjanie Boodnarine at court yesterday to answer three charges including fleeing the jurisdiction.

    Dataram to serve eight years in jail after guilty plea to new charges

  3. Yansen Brusche

    Ulverston mom of four stabbed to death by children’s father

  4. Ameer Subrati

    Man dies after bandits target overseas-based couple at Herstelling

  5. US Ambassador Perry Holloway and Finance Minister Winston Jordan shake hands after the signing of the agreement yesterday.

    Guyana inks pact for reporting to IRS on holdings of US citizens

  6. Bharrat Jagdeo

    Crime has never been this bad – Jagdeo

  7. Updated: Man dies after bandits attack overseas-based Guyanese at Herstelling

  8. Barry Dataram

    Datarams getaway passports had been issued to other people

  9. Dr. Prudence Lewis-Bhola

    Prudence Lewis-Bhola appointed as CEO of broadcasting authority

Recommended For You