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Directors dont want to provide Annual financial statementsDirectors dont want to provide Annual financial statements

Business »Posted 21 Aug 2019 Post Answer

legal question I'm a trustee of a workers trust that own 26% of a company that owns a farm. The trust have been part owners for more than 10 years now. We suspect that the annual financial have been rigged to make it appear as if the company does not make any profit. I have asked the directors for the annual financial statements in order for me to have it scrutinized. The directors does not want to provide me with the statements. Is there any way to compel them to provide us with these statements? What are our options?

legal answer from lawyer E00025344Hi, as shareholders you are entitled to annual financial statements. We can assist you draft a letter of demand to the company and even bring legal action to compel the company to present the annual financial statements to you. let us know if you need help taking this forward.

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