A n n u a l R e p o r t 2 0 1 3
14
Annual Report 2013
of the matter has been scheduled for June 23, 24, 25, 27
and July 1, 2014. Concurrently, critical issues concerning
the involvement of several parties in this matter have been
reported by TCL to the Trinidad and Tobago Securities and
Exchange Commission and the Central Bank of Trinidad
and Tobago. No further comment can be made at this
time.
Board Changes
New Directors and Resignations
As reported in the 2012 Annual Report, Mr. George
Thomas - a Designated Director nominated by the Lenders
- resigned from the Board effective March 31, 2013. To fill
the vacancy created by Mr. Thomas’ resignation, pursuant
to Paragraph 6.2 of the Intercreditor Agreement, Mr.
Wayne Yip Choy was nominated by the Lenders and was
subsequently appointed by the Board as a Designated
Director, effective November 29, 2013.
Ms. Eutrice Carrington resigned from the Board effective
June 20, 2013, after her retirement as Executive Director
of the Trinidad and Tobago Unit Trust Corporation.
Given that there was no 2013 Annual Meeting due to
the continuing Injunction, the existing slate of directors
remains in place until the next Annual Meeting of the
Company.
Acknowledgements
The return to profitability and continued commendable
results in 2013 is a testament to the talent, resilience and
commitment of the people who work for the TCL Group.
I wish to thank my fellow Directors, the Group CEO,
Management, and all employees for their dedication
to duty and steadfastness in the face of considerable
adversity. I also wish to thank our loyal customers for their
patronage, our shareholders for their patience and all of
our stakeholders for their continued support. As the last
year shows, the TCL Group has returned to profitability.
Such positive performance has continued into 2014, with
the Group continuing to record a profit. I am confident
that the best is yet to come.
Andy J. Bhajan
Group Chairman
The return to profitability and continued commendable results in 2013 is a testament to
the talent, resilience and commitment of the people who work for the TCL Group.
Group Chairman’s Review (continued)
