The Guyana Cricket Board (GCB) said yesterday that the decision not to attend Cricket West Indies’ (CWI) Annual General Meeting stemmed from the body’s failure to conform with statutory requirements of its Articles of Association.
“The main reason for this decision was that the current leadership of CWI failed to conform with the statutory requirements of the Articles of Association and present audited financial statement of CWI,” the GCB said in a statement.
The statement was released following yesterday’s planned Cricket West Indies’ Annual General Meeting where the GCB and the Barbados Cricket Association (BCA) did not attend.
As a result, the meeting was adjourned due to the lack of a quorum.
According to CWI’s Articles of Association, at least nine representatives from the 12 Full members (two each from the six full members) were needed to form a quorum and there were only eight persons at yesterday’s AGM.
“Financial statements must be sent to shareholders 14 days before the AGM and are required to be approved by the Board of Directors, this was not done for the first time in decades,” stated the GCB release.
“Non-presentation of the audited financial statement raises serious questions of accountability, transparency, and the management of CWI finances during the tenure of the Skerritt/Shallow administration,” the release continued adding…”GCB is not prepared to countenance the irresponsible and imprudent management of CWI finances by providing waivers to CWI for the audited financial statements to allow the current leadership to steamroll ahead with the AGM.
“The GCB is prepared to attend and participate in a duly constituted AGM once all requirements and notice periods are satisfied, most notably the presentation of audited financial statements. Further, the issue of voting at the CWI Presidential and Vice Presidential elections must be settled to the satisfaction of all shareholder territorial boards before the AGM and the elections can proceed.”
Meanwhile GCB’s vice-president, Drubahadur says the numerous breaches of the CWI Articles of Association should not be accepted.
A release from Drubahadur stated, “As the Vice President of Guyana Cricket Board and an appointed representative of the GCB, at all CWI General Meetings, it is unacceptable to condone the numerous breaches of the CWI Articles of Association on financial matters and governance issues.”
He added, “The GCB has written to CWI’s Corporate Secretary on numerous occasions regarding the conduct of the AGM of 28th March especially as it relates to the financial matters, and the responses were unacceptable with adversarial views as we maintain that only shareholders can alter the Articles of Association.”
The Chartered Accountant explained, “I am aware of all the required standards for financial accountability and would endeavor to adhere to them.
“The GCB is also reliably informed that plans are being formulated to attempt to debar the GCB of its voting rights as a CWI shareholder.”
The vice-president contended, “We were made aware of a legal opinion sought by CWI without board approval from a source that is compromised on the matter of Guyana’s situation regarding the Cricket Administration Act. We are prepared to stand our ground until there is full compliance with the CWI articles.”
