Kochi: The 20th Annual General Meeting of the Cochin International Airport Limited (CIAL), to be held in Kochi on August 29, promises to be stormy with its minority shareholders gearing up to corner the company director board for not considering their demand for a rights issue at par.
“Despite earlier promises, the company is dragging its feet on our demand to open at least 50 percent of the remaining unissued capital on a rights basis, and we plan to raise this issue during the upcoming AGM,” said Devassikutty Padayattil, general secretary of the Shareholders’ Organization of Cochin International Airport Limited.
The shareholders are also planning to meet Chief Minister Oommen Chandy, who is also the chairman of CIAL, ahead of the event and submit a memorandum for his consideration.
According to the organisation, Mr.Chandy, in an extra ordinary general meeting of the airport company in 2012, had promised to favourably consider the demand for a rights issue. If HUDCO could get shares at par why can’t they, who had invested in the company when there was uncertainty over the return, be given additional shares at par.
18/08/14 The Hindu
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“Despite earlier promises, the company is dragging its feet on our demand to open at least 50 percent of the remaining unissued capital on a rights basis, and we plan to raise this issue during the upcoming AGM,” said Devassikutty Padayattil, general secretary of the Shareholders’ Organization of Cochin International Airport Limited.
The shareholders are also planning to meet Chief Minister Oommen Chandy, who is also the chairman of CIAL, ahead of the event and submit a memorandum for his consideration.
According to the organisation, Mr.Chandy, in an extra ordinary general meeting of the airport company in 2012, had promised to favourably consider the demand for a rights issue. If HUDCO could get shares at par why can’t they, who had invested in the company when there was uncertainty over the return, be given additional shares at par.
18/08/14 The Hindu
