KANSAS CITY, Mo., Feb. 24 /PRNewswire/ -- An investor group in Trinity Biotech plc (Nasdaq: TRIB), an Irish based developer and manufacturer of diagnostic products, has petitioned the Office of the Director of Corporate Enforcement to facilitate compliance with key company law provisions designed to permit communication between shareholders and prospective shareholders.
The petition as filed asserts that Irish-based independent directors, Peter Coyne of Allied Irish Bank, and Dr. Jim Walsh, together with Chairman and CEO, Ronan O'Caoimh have breached Irish Company Law by blocking access to information requested by shareholders wishing to convert ADRs (American Depository Receipts) to the Irish shares they represent. The investor group has requested ODCE support of a formal investigation of the above named individuals for violation of Company Law and to pursue corrective action against this illegal behavior.
Commenting on the news, Mr. Reidy stated, "We are disappointed that the current Board has disregarded not only the wishes of shareholders but its obligations to respond to shareholder requests for the calling of an EGM (Extraordinary General Meeting). We are particularly displeased by the board's refusal to provide periodic notification of changes in registered ownership of company shares, which we view as a basic right protected under Irish securities law."
Contact: Tom Reidy, 816-260-8476, firstname.lastname@example.org
|SOURCE KC Investor Group|
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