Regulatory Alerts2015-03-24
Directive to Blue Diamonds Jewellery Worldwide PLC Regarding Corporate Governance Compliance
The Securities and Exchange Commission of Sri Lanka directed Blue Diamonds Jewellery Worldwide PLC to rectify corporate governance failures regarding its board composition and committee structures. The company must comply with Listing Rules 7.10.2, 7.10.5, and 7.10.6 concerning independent directors, the Remuneration Committee, and the Audit Committee within fourteen days. Failure to adhere to this directive will result in the Commission limiting the company's use of proceeds from its October 2014 rights issue.
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