5 September 2016
Announcement of Inside Information relating to Saffron Housing Trust Limited
Saffron Housing Trust Limited (the Association) has become aware of certain procedural defects in the historic appointment of its independent board members up to September 2011 which has resulted in a number of its board meetings, up to and after that date, being inquorate and certain resolutions passed at those board meetings not having the requisite valid Board authorisations. The Association has taken advice and is in the process of taking the necessary steps to ratify such defects and the resulting consequences. Further details of these will be published in due course.
The Association has notified the Regulation Committee of the Homes and Communities Agency (the HCA) and, consequently, the HCA has placed the Association's governance rating under review.
John Whitelock has been appointed as acting CEO for an interim period.
This announcement contains inside information and has been made by Amanda Cook, Chair, on behalf of Saffron Housing Finance plc
For further information, please contact:
Saffron Housing Trust Limited
John Whitelock, acting CEO
Long Stratton NR15 2XP
Telephone: +44 (0)1508 532 046
Fax: +44 (0)1508 532 083
Email: [email protected]
This information is provided by RNS