8/11/2019 Minuts.doc

http://slidepdf.com/reader/full/minutsdoc 1/2

MINUTES OF THE MEETING

of the

BOARD OF DIRECTORS

ADEL PASSAM LTD.

4.00 p.m.

August 17, 2014

Presiding: Sam Adela, Chairman

Present: Marta Lucas

Anton assim

!a" #orth"

Pat !o"ce

A$sent: %ernie Callam

Mr. Adela introduced the $ac&ground and e'plained that the compan" has $een lin&ed (ith

a scandal in)ol)ing a $usinessman and propert" de)eloped called !ordi Cass. *t has $een

re)ealed that si' "ears ago Cass $ought land +rom the local cit" authorit" at 20 o+ its true

mar&et )alue and one "ear later he sold it at -00 pro+it. Mr. Adela mentioned that the press

has suggested that the directors o+ APL &ne( the scandal, $ut said nothing. e stated that at

the moment the compan" is (orried $ecause its reputation (ill $e damaged and its e'cellent

relationship (ith the local communit" and its emplo"ees (ill su++er.

Mr. #orth" said that AP* should (ait and see (hat happens ne't $e+ore he ta&es an" legal

reprehension to the local press. e proposed to (ait +or the results o+ the in)estigation

 $e+ore the press, a+ter that he accepted to organie the press con+erence.

Ms. Lucas said that she had ne)er heard o+ the scandal until )er" recentl" and $elie)ed that

her position (ith the compan" is compromised i+ her hus$and is +ound to $e corrupt. Also,

she thought that i+ she resigns, it (ill loo& li&e an admission o+ guilt. She stated that the

compan" should +ight to protect its and also her reputation $ecause it not good +or AdelPassam Ltd. to &eep silent. She said that the $est solution is that the" should conduct an

in)estigation (hile the" (ait.

Mr. assim recommended that the compan" should (ait and see (hat happens ne't noticing

that +rom a legal point o+ )ie(, pro$a$l" no indi)idual has $een li$eled $ecause no one has

 $een named in the reports e'cept Mi&el Adela (ho is no( dead and the dead cannot $e

li$eled. e suggests that Mrs. Lucas should o$tain in+ormation +rom her hus$and and she

(ill ha)e to sue the papers.

Mr. Pat !o"ce said that (e had to thin& in the reputation o+ the compan" and the compan"

should issue a statement den"ing the allegations and pu$lishing account +rom periods o+ the pro$lem $ut +inall" he endorsed to ma&e a press con+erence and he accepted to contract the

auditor.

 

8/11/2019 Minuts.doc

http://slidepdf.com/reader/full/minutsdoc 2/2

/he +ollo(ing action points (ere decided upon:

Mr #orth" (ill conduct a deep in)estigation.

Mrs Lucas (ill tr" to o$tain in+ormation +rom her hus$and.

Mr assam (ill as& the media to retract (hat the" sa" a+ter the in)estigation.

Ms !o"ce (ill issue a statement den"ing the allegation and pu$lish the accounts +rom the

 period.

Next meeting: 20th August, in oom 00

P. Joyce

P. !o"ce

Secretar"

 p