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Thursday, April 28, 2011

Will GREG come out with good news?

5:56 PM    No comments



By Jithendra Antonio


Though there was speculation that one time hot stock, Environmental Resources Investment PLC (GREG) is under investigation by the regulator, Mirror Business learns that GREG is yet to receive a letter from SEC officials clarifying the investigation’s status.


The SEC sources revealed that during 277th Commission Meeting held on Wednesday 27th April 2011, SEC has finalized the matter about GREG and the company is expected to come out with the news. “GREG has requested a letter from SEC asking to clarify whether there was an investigation on the company or not, and the status of the investigation so that they can verify it to the market,” an industry source told Mirror Business in the grounds of anonymity.

“The issue had been dragging for nearly two months in the SEC’s commission meeting agendas, while in the previous meeting, the SEC official who was supposed to present the case was absent,’ the source added.

However, when Mirror Business inquired about the GREG investigation situation from SEC Director General Malik Cader he said he cannot divulge matters discussed at Commission Meetings, as they are price-sensitive issues.

“We have presented the case and deliberated it. That’s all I can tell you,” another SEC official said.

source - www.dailymirror.lk


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