MTCC makes changes to operational regulations
These changes include amendments to the company’s board of directors
The changes were passed by the MTCC’s board of directors at a special assembly on Thursday, 18th May
The Maldives Transport and Contracting Company (MTCC) has brought changes to its operational regulations.
The changes were passed by the MTCC’s board of directors at a special assembly on Thursday.
These changes include amendments to the company’s board of directors, setting the number of sitting members at 10. The board of directors had also passed a motion on their tenures, allowing them to retain their seats until a general assembly for 2016 is held.
A number of shareholders of the public limited company had raised concerns about the amendments that were passed on Thursday.
41 shareholders had been present at the assembly, while 82 were represented through proxies – together representing 281, 225 of the company’s shares.
The company had also proposed significant administrative changes to the company’s policies, however this proposal had failed to move forward.
