Adam Investments gets further Court orders over PCHH
Tuesday, 15 July 2014 00:01
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Adam Investments Ltd. said yesterday it has got further Court orders concerning PCH Holdings, which is under takeover by the former.
In a filing to the CSE, Adam Investments said it has received the following interim orders from Commercial High Court (Case no. HC Civil 23/2014/CO) on 11 July: Interim order restraining the sale, transfer of shares of Bieco Link Carbons Ltd. to MMD Ventures Lanka Ltd. from PCH Holdings Plc; restraining MMD Ventures Lanka Ltd. from taking possession, removal of assets or alienating assets of Bieco Link Carbons Ltd.; interim order restraining Global Corporate Solutions Ltd. of 3rd Floor, No. 451, Galle Road, Colombo 3 acting as the company secretary of PCH Holdings Plc and Bieco Link Carbons Ltd.; and appointing PWC Corporate Secretarial Services Ltd. as the company secretary of PCH Holdings Plc and Bieco Link Carbons Ltd. until holding an EGM of both
companies.
These orders were issued in addition to the orders already issued by the Commercial High Court on 4 July, which were: Restraining the present directors from alienating, transferring of assets of PCH Holdings Plc and Bieco Link Carbons Ltd.; appointment of two Directors, Chaminda Dayan Banduthilake and Dharshana Padmal Galabodage to the Board of Directors of PCH Holdings Plc and Bieco Link Carbons Ltd.; and appointing Kay-Jay Group as the independent security form to secure the Bieco Link Carbons Ltd. factory premises in Giriulla.
