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153.   Copies of documents to be sent to shareholders

Revised Laws of Saint Lucia (2021)

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153.   Copies of documents to be sent to shareholders

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    (1)   Not less than 21 days before each annual meeting of the shareholders of a company or before the signing of a resolution under section 130(1)(b) in lieu of its annual meeting, the company shall send a copy of the documents referred to in section 149 to each shareholder, except a shareholder who has informed the company in writing that he or she does not want a copy of those documents.

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    (2)   Despite subsection (1), a public company whose shares, or any class of whose shares, are listed need not, in such cases as may be prescribed and provided any prescribed conditions are complied with, send copies of the documents referred to in section 149 to shareholders of the company, but may instead send them a summary financial statement.

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    (3)   The summary financial statement shall be derived from the company's annual accounts and the directors' report and shall be in the prescribed form and contain the prescribed information.

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    (4)   Every summary financial statement shall—

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      (a)     state that it is only a summary of information in the company's annual accounts and the directors' report;

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      (b)     contain a statement of the company's auditors of their opinion as to whether the summary financial statement is consistent with those accounts and that report and complies with the requirements of this section and the regulations;

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      (c)     state whether the auditors' report on the annual accounts was unqualified or qualified, and if it was qualified set out the report in full together with any further material needed to understand the qualification;

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      (d)     state whether the auditors' report on the annual accounts contained a statement as to

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        (i)     the inadequacy of the accounting records or returns,

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        (ii)     the accounts not agreeing with the records or returns, or

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        (iii)     the failure to obtain necessary information or explanations.

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    (5)   In subsection (2) “listed” means admitted to the official list of a recognised Stock Exchange.

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