Your Excellency,
Bythe resolution dated August 24, 2016 which was hand delivered to your person we have drawn your attention to the fact that during the last five years serious violations have been taking place with regards to the proper compliance of the Articles of Incorporation of various companies belonging to the Telem Group.
·In this letter we are including a legal opinion by the lawyer and former notary Elco Rosario, a well-known and respected expert on our corporate laws who concluded that a serious investigation into the neglect by not only the legal representatives of said company but also the members ofthe Board of Supervisory Directors whose task it isto represent and protect the interest of the ultimate beneficiaries of these companies, namely the people of Sint Maarten.
While referring to said opinion of Mr. Rosario, a copy of which is hereby attached, we would also like to quote the following paragraph from said opinion:
“In case the Shareholder of Holding indeed decides to initiate a profound investigation into said possibly prolonged illegal situation at the Board of Holding it might also be a good thing to do for said Shareholder (Country Sint Maarten) to find out the reason why its Supervisory Board has been permitting said illegal situation to drag on for such a long time and thereby apparently serious neglecting its important task implied in its name.”
We have addressed our mentioned resolution to you, Excellency, in your capacity of Prime Minister and as such the legal representative and spokesperson of the people of Sint Maarten and therefore have taken Mr. Rosario’s conclusion and directed it to you in the form of a formal request to you in mentioned capacity, obviously expecting from you, considering the vital importance of this issue, to immediately take the initiative to embark on the “profound investigation” into said referred to “serious violations”.