22/09/2003 12:34
Chairman of the Holy Synod, Archbishop of Paphos said on Monday that the Board of Directors of the companies that come under the Hellenic Mining Corporation will suffer radical changes.
“The briefing of the HMC Chairman, Panos Galanos to the Holy Synod was thorough, however the shareholders of the companies will have the opportunity to proceed to changes or replacements of the Board members”, the Archbishop said. Responding on the question whether the Holy Synod is aware of any deficits in the management of the companies, Archbishop Chrysostomos said that the Synod is particularly concerned for the high borrowing of some HMC companies.
On the question whether the Holy Synod plans to appoint independent auditors to audit the financial results of HMC, the Archbishop said that this is not necessary.
HMC Chairman, Panos Galanos noted that the briefing of the finances of the Corporation was based on the CSE Regulations.
“The briefing of the HMC Chairman, Panos Galanos to the Holy Synod was thorough, however the shareholders of the companies will have the opportunity to proceed to changes or replacements of the Board members”, the Archbishop said. Responding on the question whether the Holy Synod is aware of any deficits in the management of the companies, Archbishop Chrysostomos said that the Synod is particularly concerned for the high borrowing of some HMC companies.
On the question whether the Holy Synod plans to appoint independent auditors to audit the financial results of HMC, the Archbishop said that this is not necessary.
HMC Chairman, Panos Galanos noted that the briefing of the finances of the Corporation was based on the CSE Regulations.
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